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Bank Mike has long term assets of $1,950 with a duration of 10 and short term assets of $1,000 with a duration of 3. In

Bank Mike has long term assets of $1,950 with a duration of 10 and short term assets of $1,000 with a duration of 3. In addition it has total liabilities of $2,100 with a duration of 6. If interest rates decrease by 1%, what is the approximate percentage change in the value of its equity?

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