If interest rates rise 1% and if you own a bond with a maturity of...
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Finance
If interest rates rise 1% and if you own a bond with a maturity of 15 years and a duration of 10 with a 5% yield your bond price will change by approximately what percentage amount?
A. up 5%
B. down 5%
C. down 9%
D. up 9%
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