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Consider a bond with a (Macaulay) duration of 6.9 years. If the yield-to-maturity of the bonds falls from 3.0% to 2.0%, what will be the
Consider a bond with a (Macaulay) duration of 6.9 years. If the yield-to-maturity of the bonds falls from 3.0% to 2.0%, what will be the percentage change in the price of the bond? Assume annual payments.
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International Financial Management
Authors: Jeff Madura
11th Edition
0538482966, 9780538482967
