A bond has a Macaulay duration of 5.75 years. What will be the percentage change in the bond price if the yield to maturity increases from 6 percent to 6.4 percent?
A) -2.23 percent
B) -2.41 percent
C) -3.30 percent
D) -3.38 percent
E) -3.46 percent
Correct Answer:
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