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Consider a zero-coupon bond with one year to maturity and with nominal $100 and annual yield of 5%. You believe after one week the yield

Consider a zero-coupon bond with one year to maturity and with nominal $100 and annual yield of 5%. You believe after one week the yield will change from 5% to 5.5%. Approximate the expected change in the bond price by using the Macaulay duration.

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