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If the interest rate increases from 4% to 6.5%, given the duration of the bond equals to 1.85 years, the price of the bond will
If the interest rate increases from 4% to 6.5%, given the duration of the bond equals to 1.85 years, the price of the bond will
A) decrease by 4.447%.
B) increase by 4.447%.
C) stay the same.
D) decrease by 4.343%.
answer is A, but pls explain why
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