Look at apples LTD issues. what is the total book valueand market vakue of LTD. Weight each LT bond based on BV and find weighted paramaters: TTM YTM coupon, price, macauly duration and effective convexity for all. Then you will have an weighted average coupon, ytm, duration and convexity. What is the influence of decreasing vs.increasing interest rates on Apple's LTD. IF interest rates go up versus go down. what happens to market value of debt? If iyou believed interest rates were to go up which 5 apple bonds wold you want to own and why. Likewise, do the same thing idf interest rates were to go down. excel data attached. you will only use apple debt

Issue Symbol Issue Name Issuer Type Amount Out Issue Date Years to Coupon Mod Convex Last Date Mac Duration Yield to Maturity STD STD Maturity 037833BX Apple Inc. 4.65% 23-FEB-2046 Apple Inc. Corporate 4,000.0 02/23/2016 24.8 4.7 3.2 127.8 15.8 3.1 037833BW Apple Inc. Corporate 1,250.0 02/23/2016 14.8 4.5 1.4 124,5 11.0 2.5 Apple Inc. 4.5% 23-FEB-2036 Apple Inc. 4.45% 06-MAY-2044 037833AT Apple Inc. 05/06/2014 23.0 4.5 3.0 123.8 15.5 3.1 1,000.0 2,000.0 037833BH Apple Inc. 4.375% 13-MAY-2045 05/13/2015 24.0 3.2 Apple Inc. prem 122.3 16.0 3.1 037833CH Corporate capace Corporate podle Corporate Corporate Corporate 1,000.0 02/09/2017 25.7 4.3 3.5 121.3 16.4 3.1 Apple Inc 037833AL 22.0 3.9 2.9 15.5 3.0 Apple Inc. nem Apple Inc. Apple Inc www L. 3,000.0 2,000.0 05/03/2013 words 08/04/2016 114.3 . 114.6 25.2 3.9 3.5 16.6 3.1 Apple Inc. 4.25% 09-FEB-2047 een 2009 Apple Inc. 3.85% 04-MAY-2043 spec.com Apple Inc. 3.85% 04-AUG-2046 ev.com Apple Inc. 3.75% 13-NOV-2047 remaren Apple Inc. 3.75% 12-SEP-2047 Apple Inc. 3.112 SEF-20 Apple Inc. 3.45% 09-FEB-2045 Apple Inc. 9.45 % USTED-2040 Apple Inc. 3.45% 06-MAY-2024 Corporate 1,250.0 11/13/2017 26.5 3.8 3.8 112.2 17.4 037833CD vos 037833DG rece 037833DD arac 037833BA Doro 037833AS 3.1 Apple Inc. Corporate 09/12/2017 26.3 3.8 3.8 112.8 17.2 3.1 Corporate 1,000.0 . 2,000.0 2,500.0 23.7 3.4 107.8 16.5 Apple Inc. Appre Apple Inc. Apple Inc. 3.0 02/09/2015 DOW 2015 05/06/2014 3.5 w 3.5 Corporate Corporate 0.1 100.0 2.8 0.5 3.0 w 5.7 037833CJ Apple Inc. 3.35% 09-FEB-2027 Corporate 2,250.0 02/09/2017 3. 3.4 3. 0.3 111.3 5.0 1.3 037833BY Apple Inc. 3.25% 23-FEB-2026 Apple Inc. Corporate 3,250.0 02/23/2016 4.8 3.3 0.2 110.2 4.2 1.1 037833BG Apple Inc. Comet Corporate 05/13/2015 4.0 3.2 0.2 109.5 3.8 0.8 2,000.0 2,000.0 037833CR Apple Inc. Corporate 05/11/2017 6.0 3.2 0.3 110.6 5.3 1.3 037833CX Apple Inc. Corporate 1,000.0 6.1 3.0 0.3 110.4 5.4 1.2 06/20/2017 444 11/13/2017 1,500.0 6.5 3.0 0.4 109.7 5.7 1.5 Apple Inc online Apple Inc 1,750.0 Corporate Com Corporate Corporate C 02/09/2017 2.7 3.0 0.1 10 106.8 037833DK D 037833CG 222 037833DO 22 037833DB 0.5 Apple Inc. 3.2% 13-MAY-2025 % -- Apple Inc. 3.2% 11-MAY-2027 oli 2009 Apple Inc. 3.0% 20-JUN-2027 Apple Inc. 3.0% 13-NOV-2027 Apple Inc. 3.0% 09-FEB-2024 95% 11-SEP-2049 Apple Inc. 2.9% 12-SEP-2027 Apple in EUL 22.FEB.2002 Apple Inc. 2.85% 23-FEB-2023 la DE 44 MAY Apple Inc. 2.85% 11-MAY-2024 A Apple Inc. 2.8% 08-FEB-2061 2.5 . 19.2 Apple Inc. 09/11/2019 28.3 3.0 4.6 98.9 3.0 1,500.0 2000 2,000.0 Apple Inc. 09/12/2017 6.3 2.9 0.4 109.0 5.6 1.4 037833BU Apple Inc 1,500.0 1.8 2.9 0.0 104.1 1.5 0.5 Corporate Corporate Corporate Corporate 02/23/2016 4710047 05/11/2017 037833CU Apple Inc 1,750.0 3.0 2.9 0.1 106.9 2.7 0.5 Apple Inc 1,750.0 02/08/2021 39.7 2.8 7.4 92.4 23.3 3.2 037833EG O 037833DF Apple Inc. 2.75% 13-JAN-2025 Apple Inc. Corporate 1,500.0 11/13/2017 3.6 2.8 0.1 107.3 3.3 0.7 SCH 200 037833DW Apple Inc. Corporate 05/11/2020 29.0 2.7 5.0 92.9 20.0 3.1 azer Apple Inc. 2.65% 11-MAY-2050 BE . Apple Inc. 2.65% 08-FEB-2051 . Apple Inc. 2.55% 20-AUG-2060 2,500.0 2000 3,000.0 037833EF Apple Inc. Corporate 02/08/2021 29.7 2.7 5.1 93.1 20.2 3.0 037833EA Corporate 1,750.0 08/20/2020 39.3 2.6 7.6 88.5 23.8 3.1 037833AZ Apple Inc. Apple Inc Apple Inc Apple Inc. Corporate 1,500.0 02/09/2015 3.7 2.5 0.1 106.7 3.5 Apple Inc. 2.5% 09-FEB-2025 Appoint. 2.0% Apple Inc. 2.45% 04-AUG-2026 0.7 Corporate 2,250.0 5.2 2.5 0.2 4.7 12 08/04/2016 vormen 06/20/2020 Apple Inc. Corporate Corporate 1,250.0 29.3 2.4 5.2 20.5 3.0 037833BZ voros 037833DZ vemos 037833DE vero 037833AK an 037833EE 106.8 0 89.5 . 103.5 . 104.2 Apple Inc. Corporate 11/13/2017 1.6 2.4 1.5 0.3 0.0 . 0.0 Apple Inc. 1.9 2.4 1.9 0.2 Corporate Corporate 750.0 0. 5,500.0 1,500.0 . 1,750.0 05/03/2013 wards 02/08/2021 Apple Inc. 19.7 2.4 28 94.0 15.6 2.8 037833DP Apple Inc. Corporate 09/11/2019 8.3 22 102.9 7.6 1.9 0.6 wi 0.0 037833DC Apple Inc. 1,000.0 09/12/2017 1.3 2.1 102.3 1.2 0.3 037833DN Comenta Corporate Como Corporate Como Corporate 2.000.0 09/11/2019 5.3 2.1 105.0 5.0 1.1 0.3 V. 0.1 037833DM 750.0 09/11/2019 3.3 1.8 104.2 3.1 0.5 Apple Inc. 2.4% 20-AUG-2050 ** ZAO-2000 Apple Inc. 2.4% 13-JAN-2023 Apple Inc. 2.** JAN 2023 Apple Inc. 2.4% 03-MAY-2023 Apple m. 2.*** MAT-2025 Apple Inc. 2.375% 08-FEB-2041 Apple m. 2.7 VOTEB-204 Apple Inc. 2.2% 11-SEP-2029 Apple Inc.2.2 SEP 2023 Apple Inc. 2.1% 12-SEP-2022 - Apple Inc. 2.05% 11-SEP-2026 - Apple Inc. 1.8% 11-SEP-2024 % - Apple in 179. 11-SEP-2022 Apple Inc. 1.7% 11-SEP-2022 Als BEAL 14 MAY 2020 Apple Inc. 1.65% 11-MAY-2030 Apple Inc. 1.65% 08-FEB-2031 oli ED 2004 Apple Inc. 259, 20.AUG-2030 Apple Inc. 1.25% 20-AUG-2030 Apple Inc. 1.2% 08-FEB-2028 Apple Inc. 1.125% 11-MAY-2025 Apple Inc. 0.75% 11-MAY-2023 % -- Apple Inc. 0.7% 08-FEB-2026 037833DL Corporate 09/11/2019 1.3 1.7 0.0 102.0 1.3 0.2 Apple Inc. Apple in Apple Inc. Apple Inc. Annet Apple Inc. Apple Inc. online Apple Inc. olan Apple Inc. 05/11/2020 1,000.0 10000 176 1,750.0 2760 2,750.0 9.0 5. 1.7 0.8 037833DU an 037833ED any 037833DY 8.4 2.0 Corporate Corporate Corporate 97.7 De 96.9 9.7 1.7 0.9 9.0 2.1 02/08/2021 pino 08/20/2020 40 1,250.0 9.2 1.3 0.8 94.8 8.7 1.9 037833EC Corporate 2.500.0 02/08/2021 6.7 1.2 0.5 98.4 6.4 1.5 037833DT Apple Inc. Corporate 2,250.0 05/11/2020 4.0 1.1 0.2 101.5 3.9 0.8 037833DV Apple Inc. 2,000,0 05/11/2020 2.0 0.8 0.0 101.0 2.0 0.2 Corporate Corporate 037833EB Apple Inc. 2,500.0 02/08/2021 4.7 0.7 0.2 99.2 4.6 0.9 037833DX Apple Inc. 0.55% 20-AUG-2025 Apple Inc. Corporate 1,250.0 08/20/2020 4.2 0.6 0.2 99.1 4.2 0.8 Issue Symbol Issue Name Issuer Type Amount Out Issue Date Years to Coupon Mod Convex Last Date Mac Duration Yield to Maturity STD STD Maturity 037833BX Apple Inc. 4.65% 23-FEB-2046 Apple Inc. Corporate 4,000.0 02/23/2016 24.8 4.7 3.2 127.8 15.8 3.1 037833BW Apple Inc. Corporate 1,250.0 02/23/2016 14.8 4.5 1.4 124,5 11.0 2.5 Apple Inc. 4.5% 23-FEB-2036 Apple Inc. 4.45% 06-MAY-2044 037833AT Apple Inc. 05/06/2014 23.0 4.5 3.0 123.8 15.5 3.1 1,000.0 2,000.0 037833BH Apple Inc. 4.375% 13-MAY-2045 05/13/2015 24.0 3.2 Apple Inc. prem 122.3 16.0 3.1 037833CH Corporate capace Corporate podle Corporate Corporate Corporate 1,000.0 02/09/2017 25.7 4.3 3.5 121.3 16.4 3.1 Apple Inc 037833AL 22.0 3.9 2.9 15.5 3.0 Apple Inc. nem Apple Inc. Apple Inc www L. 3,000.0 2,000.0 05/03/2013 words 08/04/2016 114.3 . 114.6 25.2 3.9 3.5 16.6 3.1 Apple Inc. 4.25% 09-FEB-2047 een 2009 Apple Inc. 3.85% 04-MAY-2043 spec.com Apple Inc. 3.85% 04-AUG-2046 ev.com Apple Inc. 3.75% 13-NOV-2047 remaren Apple Inc. 3.75% 12-SEP-2047 Apple Inc. 3.112 SEF-20 Apple Inc. 3.45% 09-FEB-2045 Apple Inc. 9.45 % USTED-2040 Apple Inc. 3.45% 06-MAY-2024 Corporate 1,250.0 11/13/2017 26.5 3.8 3.8 112.2 17.4 037833CD vos 037833DG rece 037833DD arac 037833BA Doro 037833AS 3.1 Apple Inc. Corporate 09/12/2017 26.3 3.8 3.8 112.8 17.2 3.1 Corporate 1,000.0 . 2,000.0 2,500.0 23.7 3.4 107.8 16.5 Apple Inc. Appre Apple Inc. Apple Inc. 3.0 02/09/2015 DOW 2015 05/06/2014 3.5 w 3.5 Corporate Corporate 0.1 100.0 2.8 0.5 3.0 w 5.7 037833CJ Apple Inc. 3.35% 09-FEB-2027 Corporate 2,250.0 02/09/2017 3. 3.4 3. 0.3 111.3 5.0 1.3 037833BY Apple Inc. 3.25% 23-FEB-2026 Apple Inc. Corporate 3,250.0 02/23/2016 4.8 3.3 0.2 110.2 4.2 1.1 037833BG Apple Inc. Comet Corporate 05/13/2015 4.0 3.2 0.2 109.5 3.8 0.8 2,000.0 2,000.0 037833CR Apple Inc. Corporate 05/11/2017 6.0 3.2 0.3 110.6 5.3 1.3 037833CX Apple Inc. Corporate 1,000.0 6.1 3.0 0.3 110.4 5.4 1.2 06/20/2017 444 11/13/2017 1,500.0 6.5 3.0 0.4 109.7 5.7 1.5 Apple Inc online Apple Inc 1,750.0 Corporate Com Corporate Corporate C 02/09/2017 2.7 3.0 0.1 10 106.8 037833DK D 037833CG 222 037833DO 22 037833DB 0.5 Apple Inc. 3.2% 13-MAY-2025 % -- Apple Inc. 3.2% 11-MAY-2027 oli 2009 Apple Inc. 3.0% 20-JUN-2027 Apple Inc. 3.0% 13-NOV-2027 Apple Inc. 3.0% 09-FEB-2024 95% 11-SEP-2049 Apple Inc. 2.9% 12-SEP-2027 Apple in EUL 22.FEB.2002 Apple Inc. 2.85% 23-FEB-2023 la DE 44 MAY Apple Inc. 2.85% 11-MAY-2024 A Apple Inc. 2.8% 08-FEB-2061 2.5 . 19.2 Apple Inc. 09/11/2019 28.3 3.0 4.6 98.9 3.0 1,500.0 2000 2,000.0 Apple Inc. 09/12/2017 6.3 2.9 0.4 109.0 5.6 1.4 037833BU Apple Inc 1,500.0 1.8 2.9 0.0 104.1 1.5 0.5 Corporate Corporate Corporate Corporate 02/23/2016 4710047 05/11/2017 037833CU Apple Inc 1,750.0 3.0 2.9 0.1 106.9 2.7 0.5 Apple Inc 1,750.0 02/08/2021 39.7 2.8 7.4 92.4 23.3 3.2 037833EG O 037833DF Apple Inc. 2.75% 13-JAN-2025 Apple Inc. Corporate 1,500.0 11/13/2017 3.6 2.8 0.1 107.3 3.3 0.7 SCH 200 037833DW Apple Inc. Corporate 05/11/2020 29.0 2.7 5.0 92.9 20.0 3.1 azer Apple Inc. 2.65% 11-MAY-2050 BE . Apple Inc. 2.65% 08-FEB-2051 . Apple Inc. 2.55% 20-AUG-2060 2,500.0 2000 3,000.0 037833EF Apple Inc. Corporate 02/08/2021 29.7 2.7 5.1 93.1 20.2 3.0 037833EA Corporate 1,750.0 08/20/2020 39.3 2.6 7.6 88.5 23.8 3.1 037833AZ Apple Inc. Apple Inc Apple Inc Apple Inc. Corporate 1,500.0 02/09/2015 3.7 2.5 0.1 106.7 3.5 Apple Inc. 2.5% 09-FEB-2025 Appoint. 2.0% Apple Inc. 2.45% 04-AUG-2026 0.7 Corporate 2,250.0 5.2 2.5 0.2 4.7 12 08/04/2016 vormen 06/20/2020 Apple Inc. Corporate Corporate 1,250.0 29.3 2.4 5.2 20.5 3.0 037833BZ voros 037833DZ vemos 037833DE vero 037833AK an 037833EE 106.8 0 89.5 . 103.5 . 104.2 Apple Inc. Corporate 11/13/2017 1.6 2.4 1.5 0.3 0.0 . 0.0 Apple Inc. 1.9 2.4 1.9 0.2 Corporate Corporate 750.0 0. 5,500.0 1,500.0 . 1,750.0 05/03/2013 wards 02/08/2021 Apple Inc. 19.7 2.4 28 94.0 15.6 2.8 037833DP Apple Inc. Corporate 09/11/2019 8.3 22 102.9 7.6 1.9 0.6 wi 0.0 037833DC Apple Inc. 1,000.0 09/12/2017 1.3 2.1 102.3 1.2 0.3 037833DN Comenta Corporate Como Corporate Como Corporate 2.000.0 09/11/2019 5.3 2.1 105.0 5.0 1.1 0.3 V. 0.1 037833DM 750.0 09/11/2019 3.3 1.8 104.2 3.1 0.5 Apple Inc. 2.4% 20-AUG-2050 ** ZAO-2000 Apple Inc. 2.4% 13-JAN-2023 Apple Inc. 2.** JAN 2023 Apple Inc. 2.4% 03-MAY-2023 Apple m. 2.*** MAT-2025 Apple Inc. 2.375% 08-FEB-2041 Apple m. 2.7 VOTEB-204 Apple Inc. 2.2% 11-SEP-2029 Apple Inc.2.2 SEP 2023 Apple Inc. 2.1% 12-SEP-2022 - Apple Inc. 2.05% 11-SEP-2026 - Apple Inc. 1.8% 11-SEP-2024 % - Apple in 179. 11-SEP-2022 Apple Inc. 1.7% 11-SEP-2022 Als BEAL 14 MAY 2020 Apple Inc. 1.65% 11-MAY-2030 Apple Inc. 1.65% 08-FEB-2031 oli ED 2004 Apple Inc. 259, 20.AUG-2030 Apple Inc. 1.25% 20-AUG-2030 Apple Inc. 1.2% 08-FEB-2028 Apple Inc. 1.125% 11-MAY-2025 Apple Inc. 0.75% 11-MAY-2023 % -- Apple Inc. 0.7% 08-FEB-2026 037833DL Corporate 09/11/2019 1.3 1.7 0.0 102.0 1.3 0.2 Apple Inc. Apple in Apple Inc. Apple Inc. Annet Apple Inc. Apple Inc. online Apple Inc. olan Apple Inc. 05/11/2020 1,000.0 10000 176 1,750.0 2760 2,750.0 9.0 5. 1.7 0.8 037833DU an 037833ED any 037833DY 8.4 2.0 Corporate Corporate Corporate 97.7 De 96.9 9.7 1.7 0.9 9.0 2.1 02/08/2021 pino 08/20/2020 40 1,250.0 9.2 1.3 0.8 94.8 8.7 1.9 037833EC Corporate 2.500.0 02/08/2021 6.7 1.2 0.5 98.4 6.4 1.5 037833DT Apple Inc. Corporate 2,250.0 05/11/2020 4.0 1.1 0.2 101.5 3.9 0.8 037833DV Apple Inc. 2,000,0 05/11/2020 2.0 0.8 0.0 101.0 2.0 0.2 Corporate Corporate 037833EB Apple Inc. 2,500.0 02/08/2021 4.7 0.7 0.2 99.2 4.6 0.9 037833DX Apple Inc. 0.55% 20-AUG-2025 Apple Inc. Corporate 1,250.0 08/20/2020 4.2 0.6 0.2 99.1 4.2 0.8