You have discovered that when the required rate of return on a bond you own fell by
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You have discovered that when the required rate of return on a bond you own fell by 0.50 percent from 9.75 percent to 9.25 percent, the fair present value rose from $975 to $995. The bond pays interest annually. What is the duration of this bond? (LG 3-8)
LO.1
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Financial Markets And Institutions
ISBN: 9781259919718
7th Edition
Authors: Anthony Saunders, Marcia Cornett
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