Multiple Choice
A 9%, 16-year bond has a yield to maturity of 9% and duration of 7.25 years. If the market yield changes by 15 basis points, how much change will there be in the bond's price?
A) 1.00%
B) 2.01%
C) 2.67%
D) 3.44%
Correct Answer:
Verified
Correct Answer:
Verified
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