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The duration of an 11-year, $1,000 Treasury bond paying a 12% semi-annual coupon and selling at par (yield = coupon rate) has been estimated at

The duration of an 11-year, $1,000 Treasury bond paying a 12% semi-annual coupon and selling at par (yield = coupon rate) has been estimated at 6.5 years. What will be the estimated price change on the bond if interest rates increase 0.20 percent? R=0.002

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