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Bond new price interest rates

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A bond has a duration of 7.09 with a yield-to-maturity of 5.5. The current bond price is $1,093.23. Convexity for this bond is determined to be 107.45. What would be the bond's new price if interest rates suddenly increased by 1.41%? State your answer as a dollar amount with two decimal places.

Reference no: EM133071809

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