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%?

Answer rating: 100% (QA)

Calculate the value of the bond its duration and modified duration ANSWER Valu... View the full answer