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A bond portfolio has a modified duration of 12.22 years and a convexity of 57.6. If interest rates change by -1.21%, what would be the

A bond portfolio has a modified duration of 12.22 years and a convexity of 57.6. If interest rates change by -1.21%, what would be the approximate price change (Answer in % to 2 decimal places, 1.24 for 1.24%).

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