Approximate Sensitivity of the bond below to a .01% change in rate (ytm).

Note that .01% is 1/10000; it's called a basis point.

The coupon pays annually.

Face = 2000000

ytm = 3%

coupon = 4%

maturity = 10

Calculate the Duration of the bond.

Estimate the senstivity of the bond using the Duration.

Multiply the senstivity by .01%