（二）若某債券的存續期間(Duration)為 6，其凸率(Convexity)為 200，若該債券市場殖利率下跌 0.5%，在考量凸率效果下，請估算債券價格變動率(%)約為多少？

三、英文作文：（20 分） Write an essay in NO MORE THAN 300 words based on the following descriptions. “In many educational systems, most provision is made for intellectual education. Moral education is often ignored.” In your essay, you are required to state whether you agree or disagree with this statement with reasons first. Then evaluate the present education system in Taiwan from the two perspectives mentioned above. When you develop your arguments, you are required to provide sufficient supportive illustrations for each of your opinions.

（二）若某債券的存續期間(Duration)為 6，其凸率(Convexity)為 200，若該債券市場殖利率下跌 0.5%， 在考量凸率效果下，請估算債券價格變動率(%)約為多少？

其他申論題

（二）若某債券的存續期間(Duration)為 6，其凸率(Convexity)為 200，若該債券市場殖利率下跌 0.5%，在考量凸率效果下，請估算債券價格變動率(%)約為多少？