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Question description

What is the percentage change in price for a zero coupon bond if the yield changes from 6.5% to 5.5%? The bond has a face value of $1,000 and it matures in 10 years. Use the price determined from the first yield 6.5% as the base in percentage calculation. The percentage change in the bond price if the yield changes from 6.5% to 5% is? (Round to two decimal places)

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