Duration approximate percentage change in the price of bond

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Find the duration of a 9 ¼ 5-year bond (paying annual coupons) with a yield to maturity of 10 percent. If the yield increases by 44 basis points, what is the exact percentage change in the price of the bond? If the yield increases by 44 basis points, what is the duration approximate percentage change in the price of the bond? Make sure to show work.

Reference no: EM131564459

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