Question: what is correct answer to B? Calculate the Macaulay duration of a 9%,$1,000 par bond that matures in three years if the bond's YTM is

what is correct answer to B? what is correct answer to B? Calculate the Macaulay duration of a

Calculate the Macaulay duration of a 9%,$1,000 par bond that matures in three years if the bond's YTM is 12%6 and interest is paid semiannually. a. Calculate this bond's modified duration. Do not round intermediate calculations. Round your answer to two decimal places. years b. Assuming the bond' VTM goes from 12% to 11.0%, calculate an estimate of the price change. Do not round intermediate calculations. Round your answer to three decimal places. Use a minus sign to enter negative value, if any

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