You use the equation -D*y to estimate the percentage change in the price of a bond when yields change. Relative to this estimate, the actual change...

You use the equation -D*∆y to estimate the percentage change in the price of a bond when yields change. Relative to this estimate, the actual change in a bond's price will be

the same

a.more if interest rates rise and less if interest rates fall

b.more if interest rates fall and less if interest rates rise

c.less

d.more