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The modified duration of a bond is 4 years. The yield to maturity of this bond is 5.2%. The coupon is paid semi-annually. According to

The modified duration of a bond is 4 years. The yield to maturity of this bond is 5.2%. The coupon is paid semi-annually. According to the duration rule, what is the price change in percentage when its yield to maturity increases to 6%?

a. 3.2%

b. -3.2%

c. 4.0%

d. -4.0%

e. -1.6%

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