101. An analyst determined that if interest rates increase 120 basis points the price of a
bond would be $89.70, but if interest rates decrease 120 basis points the price of
that bond would be $99.30. If the initial price of the bond is $95.40, the
approximate percentage price change for a 100 basis point change in yield is closest
to:
A. 2.5%.
B. 4.2%.
C. 8.4%.
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