Calculate the expected price change in % if interest rates fall to 8.35% using the duration approximation formula Information from prior You see a five-year bond trading in the market with the following characteristics:  $1,000 face value, 9% coupon with 5 years to maturity.  Assume market interest rates are 8.5% and that coupon payments

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A: Solution:- Price of bond means the price at which the bond is currently trading in the market.