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A bond with maturity of 25 years has a YTM of 8.6% is priced at $918. Its duration (not modified duration) is 19.5 years. What

A bond with maturity of 25 years has a YTM of 8.6% is priced at $918. Its duration (not modified duration) is 19.5 years. What will happen to the bond price if the bonds YTM increases to 9%?

Rise by approximately 0.9%

Rise by approximately 7%

Fall by approximately 7%

Fall by approximately 0.9%

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