Consider a Bond with a Duration of 6 Years Having

Multiple Choice

Consider a bond with a duration of 6 years having a yield to maturity of 8 percent, and interest rates are expected to rise by 50 basis points. What is the percentage change in the price of the bond?

A) 2.88 percent
B) 3.45 percent
C) -3.89 percent
D) -3.45 percent
E) -2.88 percent