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A bond matures in 15 years, its Macaulay duration is 11.6, and its modified duration is 10.85. If market interest rate (yield) increases by 0.5%,

A bond matures in 15 years, its Macaulay duration is 11.6, and its modified duration is 10.85. If market interest rate (yield) increases by 0.5%, how will this bond price change? Calculate the percentage change in bond price.

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