The outstanding bonds of Alpha Extracts have a yield to maturity of 8.4 percent and a modified duration of 10.8.If the yield to maturity instantly decreased to 7.5 percent,the bond's price would increase/decrease by _____ percent.
A) -10.08
B) -9.67
C) 8.45
D) 9.72
E) 10.08
Correct Answer:
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