If the market interest rate changes from 10 to 102 how much


Given a bond price of par (with a face amount of $1,000), Semi-annual interest payments of $50, and McCauley's duration of 8.5 years. If the market interest rate changes from 10% to 10.2%, how much will the bond's price change?

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Financial Management: If the market interest rate changes from 10 to 102 how much
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