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What is predicted to be the bond new price

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A bond has a duration of 6.607 and the current yield-to-maturity is 4.5%. If the current bond's price is $1,087.41 what is predicted to be the bond's new price if interest rates suddenly jump upwards by 0.4%? State your answer as a dollar amount with two decimal places.

Reference no: EM133109508

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