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A bond with a face value of $1000 and maturity 4 years has an annual coupon rate of 10% (paid annually). Interest rates are 10%

A bond with a face value of $1000 and maturity 4 years has an annual coupon rate of 10% (paid annually). Interest rates are 10% per annum for every maturity.1.

Estimate the percentage change in price, if interest rates increase by 2% for every maturity.

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