A semiannual bond trades to yield 8%. Its base price is currently $920 and its Duration 11
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A semiannual bond trades to yield 8%. Its base price is currently $920 and its Duration 11 years. Use first order approximation (duration only) to find the bond's approximate price if the yield increases to 9%. Express your answer in dollars and cents but omit the $ sign.
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0134141084
11th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs
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