Find the duration of a bond with settlement date May 27, 2016, and maturity date November 15,

Question:

Find the duration of a bond with settlement date May 27, 2016, and date November 15, 2025. The rate of the bond is 7%, and the bond pays coupons semiannually. The bond is selling at a yield to of 8%. You can use Spreadsheet 11.2, available in Connect; link to Chapter 11 material?
Coupon
A coupon or coupon payment is the annual interest rate paid on a bond, expressed as a percentage of the face value and paid from issue date until maturity. Coupons are usually referred to in terms of the coupon rate (the sum of coupons paid in a... Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...