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Bond b has 7 years to maturity. Its ytm right now is 5%. If the bond has a Macaulay duration of 7.2% and convexity of

Bond b has 7 years to maturity. Its ytm right now is 5%. If the bond has a Macaulay duration of 7.2% and convexity of 25, what is the percentage change in bond price if interest rates suddenly decrease by 1.1% ? Assume annual compounding

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