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INE COPY Document is in read-only mode. Flag question Question text Edit Document Given the following information on a bond, if the interest rate

INE COPY Document is in read-only mode. Flag question Question text Edit Document Given the following information on a bond, if the interest rate decreases by 1% (that from 4% to 3%), what is the change in the price of the bond based on duration? Current market price = $950 Duration, D = 8 years Yield to maturity = 4%

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