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A bond matures in 10 years with a coupon of 4.5% p.a. Its yield is 5.83% p.a. and it has a modified duration of 7.81.

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A bond matures in 10 years with a coupon of 4.5% p.a. Its yield is 5.83% p.a. and it has a modified duration of 7.81. If the yield of the bond declines to 5.58%, the approximate percentage price change for the bond is closest to: A. -1.41% B. 3.91% O C. 1.95% OD. -0.98%

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