Question: help please (the answer needs to be 4 decimal places) Required: A bond currently sells for $1,060, which gives it a yield to maturity of

help please (the answer needs to be 4 decimal places)
help please (the answer needs to be 4 decimal places) Required: A

Required: A bond currently sells for $1,060, which gives it a yield to maturity of 5%. Suppose that if the yield increases by 50 basis points, the price of the bond falls to $1,035. What is the modified duration of this bond? (Do not round intermediate calculations, Round your answer to 4 decimal places.) Answer is complete but not entirely correct. Modified duration 4.9500 3 years

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