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Suppose there is a bond with a modified duration of 15 years currently; and the convexity of the bond is 130. In the event that

Suppose there is a bond with a modified duration of 15 years currently; and the convexity of the bond is 130. In the event that the bonds yield changes from 7% to 8%, what will be the approximate percentage change in the bonds price?

-0.14

-0.18

-0.12

-0.16

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