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A bond has a modified duration of 9.45 and yield to maturity of 7.8 percent. If interest rates increase by 60 basis points, the bond's
A bond has a modified duration of 9.45 and yield to maturity of 7.8 percent. If interest rates increase by 60 basis points, the bond's price will decrease by _______ percent.
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Fundamentals of Investment Management
Authors: Geoffrey Hirt, Stanley Block
10th edition
0078034620, 978-0078034626
