Question: Given the following information, use the approximation method to calculate the modified duration of the semi-annual, option-free bond. You may assume that no interest has

Given the following information, use the approximation method to calculate the modified duration of the semi-annual, option-free bond. You may assume that no interest has
accrued on this bond since the last coupon payment. (Use annual yield changes of 10 basis points to calculate P+ and P-, and carry price calculations to 4 digits.)Coupon: 6%, Initial YTM: 5%, Maturity: 10 years, Initial Price = 107.795 (per $100 par)

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