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Consider a 4-year bond paying 6% coupon annually. The yield is 8%. Find the approximate percentage change in price if the yield rises by 15
Consider a 4-year bond paying 6% coupon annually. The yield is 8%. Find the approximate percentage change in price if the yield rises by 15 basis points. Do not write any symbol. Express your answer as a percentage. Make sure to round your answers to the nearest 100th decimal points. For example, write 3.45 for 3.45%.
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