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A bond has a Modified Duration of 16 years, YTM at 10%, trading at $70. What is the approximate change in price for a decrease
A bond has a Modified Duration of 16 years, YTM at 10%, trading at $70. What is the approximate change in price for a decrease in yield of 0.1%?
1 point
a. +1.6
b. +1.6%
c. -1.6
d. -1.6%
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