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A bond with Macaulay duration of 3 years has a yield of 4.82% and makes coupon payments semiannually. If the yield changes to 4.8%, what
A bond with Macaulay duration of 3 years has a yield of 4.82% and makes coupon payments semiannually. If the yield changes to 4.8%, what percentage price change would the duration measure predict? (Round to the nearest 0.001%, drop the % symbol. E.g., if your answer is -5.342%, record it as -5.342.)
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