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Consider a 3-year zero-coupon bond with a par value of $1,000 and selling for $816.30 to yield 7% (effective rate). What would be the approximate

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Consider a 3-year zero-coupon bond with a par value of $1,000 and selling for $816.30 to yield 7% (effective rate). What would be the approximate percentage change (using only duration) in the price of the bond if the interest rates decrease by 50 bps? Interest are capitalized on a semi-annual basis. 1.4493% 1.4034% 1.4019% 1.4501% 1.4148%

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