Multiple Choice
A bond is selling in the market for $950 and has a duration of 6 years.Market interest rates are 9 percent and are expected to decrease to 7 percent in the near future.What will this bond's price be after the change in market interest rates?
A) $969
B) $931
C) $1,055
D) $854
E) $950
Correct Answer:
Verified
Correct Answer:
Verified
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