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QUESTION 21 A bank buys a $10,000 Zero-Coupon bond with a maturity of 7 years. Current market rates are 5.9%. If interest rates rise to

QUESTION 21

A bank buys a $10,000 Zero-Coupon bond with a maturity of 7 years. Current market rates are 5.9%. If interest rates rise to 7%, what is the approximate change in the price of the T-bill?

Write the answer in 3-decimal places.

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