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Consider a 1 0 - coupon bond with coupon rate r = 0 . 0 5 ( effective ) , yield rate j = 0

Consider a 10-coupon bond with coupon rate r =0.05(effective), yield rate j =0.1(effective), and face amount 100. The first order Macaulay approximation for the price of this bond after a change in yield rate of X is 49.3058. Calculate X.

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