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An annual coupon bond has a current YTM of 5.00% and a Macaulay's Duration of 9.0 years. Using Modified Duration (D* = D/(1+ytm)), by what

An annual coupon bond has a current YTM of 5.00% and a Macaulay's Duration of 9.0 years. Using Modified Duration (D* = D/(1+ytm)), by what approximate percentage would the bond change if market rates INCREASED to 5.00% from 3.90%? Question 24 options:

+5.05%

-9.43%

-9.66%

+9.90%

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