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What percentage change should occur in bonds market price

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Question: Dewey National Bank holds $15 million in government bonds having a duration of six years. If interest rates suddenly rise from 6 percent to 7 percent, what percentage change should occur in the bonds market price? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM131717532

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