A Bond Currently Has a Price of $1,050

question 71

Multiple Choice

A bond currently has a price of $1,050. The yield on the bond is 6%. If the yield increases 25 basis points, the price of the bond will go down to $1,030. The duration of this bond is ________ years.

• A) 7.46
• B) 8.08
• C) 9.02
• D) 10.11

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