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An analyst gathered the following information about a 15-year bond: 10% coupon rate (paid semiannually) modified duration of 7.6 years If the market yield rises

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An analyst gathered the following information about a 15-year bond: 10% coupon rate (paid semiannually) modified duration of 7.6 years If the market yield rises 75 basis points, the bond's approximate price change is a 5.4% increase 5.7% decrease 5.4% decrease

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