怎么理解

问题如下：

A bond with a par value of $100 matures in 10 years with a coupon of 4.5% paid semiannually; it is priced to yield 5.83% and has a modified duration of 7.81. If the yield of the bond declines by 0.25%, the approximate percentage price change for the bond is closest to:

选项：

0.98%.

1.95%.

3.91%.

解释：

Correct Answer: B

Approximate percentage price change = –[7.81 × (–0.0025)] = 0.01953 or 1.95%.