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Bob owns a 10-year bond with anmual coupons, which has a present value of P0. Suppose the yield rate changes, and Bob estimates the new

Bob owns a 10-year bond with anmual coupons, which has a present value of P0. Suppose the yield rate changes, and Bob estimates the new price P1 using: - duration, giving an estimated new value of P1MMacd, and A P1MacD

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