A bond has a yield to maturity of 7 percent. It matures in 12 years, and its
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A bond has a yield to maturity of 7 percent. It matures in 12 years, and its coupon rate is 6 percent. What is its modified duration?
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We first must calculate the Macaulay duration using the unpleasantlooking formula just abov...View the full answer
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Fundamentals Of Investments Valuation And Management
ISBN: 9781266824012
10th Edition
Authors: Bradford Jordan, Thomas Miller, Steve Dolvin
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