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A bond has annual modified duration of 8.32 and annual convexity of 102. The bonds yield to maturity is expected to increase by 75 basis

A bond has annual modified duration of 8.32 and annual convexity of 102. The bonds yield to maturity is expected to increase by 75 basis points (i.e. 0.75%). The expected percentage price change is closest to:

Group of answer choices

+5.95%

-7.18%

-5.95%

+6.53%

-6.53%

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