Given a bond with a duration of 7.65 and convexity of 125 that pays interest semi-annually and has a yield to maturity of 4%, if the market interest rate (YTM) increases from 4% to 7%, the price of the bond will have an estimated price change due to both duration and convexity of

Choose from the following::

-1.5 %

-7.2 %

-16.9 %

-28.1 %

+17.4 %