A bond has a price of $98 (per $100 of face value), and yield to maturity of

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A bond has a price of $98 (per $100 of face value), and yield to maturity of 7% and a duration of 18 years. The yield on the bond changes to 7.8%. What is the new price? (Answer in two decimals)

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Fundamentals Of Corporate Finance

ISBN: 9781264101566

11th Edition

Authors: Richard A. Brealey, Stewart C. Myers, Alan J. Marcus

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Posted Date: Feb 01, 2023 05:28 AM

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A bond has a price of $98 (per $100 of face value), and yield to maturity of

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Step 11 Step 1 AP PD1iAi Where P 98 D 18 ... View the full answer

Fundamentals Of Corporate Finance

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