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US Bank has determined that its bond portfolio has a duration of 9.5 years and a prevailing yield to maturity of 4.0 percent.If the yield

US Bank has determined that its bond portfolio has a duration of 9.5 years and a prevailing yield to maturity of 4.0 percent.If the yield to maturity changes to 5.5 percent, then US Bank should anticipate how much of a price change for its portfolio?Hint: First find the modified duration of the portfolio.

-13.51 percent

+13.51 percent

-13.7 percent

+13.7 percent

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