i hate bonds

[pepp]

if the duration of a 6.2% 18 yr bond is 11.28, then what’s the price change of the bond due to a interest rate change of 1 basis points.
a) .1128
b) .1128%
c) .1287
d) .1287%

 

[supersharpshooter]

11.28% price change in response to a 100bp change in yield
0.1128% price change in response to a 1bp change in yield

 

[pepp]

what is your answer?

 

[supersharpshooter]

B) .1128%