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If a 19-year semi-annual pay bond has a Macaulay duration of 15.5 and yield to maturity of 6%. if the yield falls to 5.5%, calculate
If a 19-year semi-annual pay bond has a Macaulay duration of 15.5 and yield to maturity of 6%. if the yield falls to 5.5%, calculate the approximate percentage change in the bonds price.
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