An analyst gathers the following information about an option-free bond:
- Par value: $1,000,000
- Current market value: $912,575
- Duration: 2.4
If yields are expected to decrease by 50 basis points, the expected price change for the bond is closest to: | Chartered Financial Analyst Level 1 Quiz - LeetQuiz
Chartered Financial Analyst Level 1
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An analyst gathers the following information about an option-free bond:
Par value: $1,000,000
Current market value: $912,575
Duration: 2.4
If yields are expected to decrease by 50 basis points, the expected price change for the bond is closest to: