A portfolio manager is considering the effect of a 75 basis point cange of interest rate on a bond with Par = 1000, Price = $985 and Duration =4.8. The most appropriate price change would be
| a. |
None of the alternatives |
| b. |
4.8% of 1000 |
| c. |
4.8% of 985 |
| d. |
3.6% of 1000 |
| e. |
3.6% of 985 |