Compute the bond price to change in percentage terms

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Question: You are holding a bond with a price of $144,000, a duration of 5 and a yield to maturity of 8.6%. If you think that interest rates will change to 7.7%, how much would you estimate the bond price to change in percentage terms? (please express your answer as a number without the percentage sign so if your answer is 10.32%, please show your answer as 10.32)

Reference no: EM131982239

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