An investor buys a 3-year bond with a 5% coupon rate paid annually. The bond has a

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An investor buys a 3-year bond with a 5% coupon rate paid annually. The bond has a yield-to-maturity of 3%. Assuming a 5 basis point change in yield-to-maturity, what is the bond’s Approximate Modified Duration?

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Fundamentals of Investing

ISBN: 978-0133075359

12th edition

Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk

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Posted Date: Mar 17, 2023 04:27 AM

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An investor buys a 3-year bond with a 5% coupon rate paid annually. The bond has a

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Fundamentals of Investing

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