You have the following details about the First Banc Corp. bond: Maturity = 9 years, Coupon rate
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Question:
You have the following details about the First Banc Corp. bond: Maturity = 9 years, Coupon rate (annual) = 5.25%, Yield to maturity = 4.2%, Par value = $1,000. Calculate the value of the bond, its duration and modified duration. What will be the change in value if interest rates go up by 1.0%?
Related Book For
Finance Applications and Theory
ISBN: 978-0077861681
3rd edition
Authors: Marcia Cornett, Troy Adair
Posted Date: