Question
A bond has a yield of 6.61 and a duration of 7.946 years. If interest rates decrease by 1.144%, what will be the approximate percentage
A bond has a yield of 6.61 and a duration of 7.946 years. If interest rates decrease by 1.144%, what will be the approximate percentage change in value of the bond? (Use the duration approximation formula to estimate.) Enter 4 decimal places.
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Applied International Finance
Authors: Thomas J O'Brien
1st Edition
1606497340, 9781606497340
