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Question (8) 3 points Save Answer A 13-year zero coupon bond with a face value of $1,000 is currently selling for $43.4. Using the bond's

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A 13-year zero coupon bond with a face value of $1,000 is currently selling for $43.4. Using the bond's modified duration, what is the approximate %age change in the price of the bond if interest rates

rise by 77 basis points?

Please write the answer in Three decimal places and NOT PERCENTAGE

Curation 3

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