Fixed-income asset with a duration of five years

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You own a fixed-income asset with a duration of five years. If the level of interest rates, which is currently 7.9%, goes down by 15 basis points, how much do you expect the price of the asset to go up (in percentage terms)? (Input the value as a positive value. Do not round intermediate calculations. Round your answer to 2 decimal places.)

The price of the asset (Click to select) decreases by increases by %.

Reference no: EM131852631

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