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A bond with a 8-year duration is worth $1,077, and its yield to maturity is 7.7%. If the yield to maturity falls to 7.57%, you
A bond with a 8-year duration is worth $1,077, and its yield to maturity is 7.7%. If the yield to maturity falls to 7.57%, you would predict that the new value of the bond will be approximately
Multiple Choice
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$1,075.60
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$1,077.00
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$1,087.45
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$1,078.40
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