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Using the elasticity approach, the change in the price of a $500 000 60-day bank accepted bill when the yield increases from 6% to 10%

Using the elasticity approach, the change in the price of a $500 000 60-day bank accepted bill when the yield increases from 6% to 10% would be

  1. -$805.93

  2. -$3223.78

  3. $3223.78

  4. None of the above

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