A 9-year bond has a yield of 85 and a duration of 8489, Financial Management

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A 9-year bond has a yield of 85 and a duration of 8489

A 9-year bond has a yield of 8.5% and a duration of 8.489 years. If the market yield changes by 90 basis points, what is the percentage change in the bond's price? (Do not round intermediate calculations. Input the amount as a positive value. Round your answer to 2 decimal places. Omit the "%" sign in your response.)

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Financial Management: A 9-year bond has a yield of 85 and a duration of 8489

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Financial Management: A 9-year bond has a yield of 85 and a duration of 8489

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