1. Problem 13-01 eBook Problem 13-01 Calculate the Macaulay duration of a 10%, $1,000 par bond that matures in three years if the bond's YTM s 14% and interest is paid semiannually. You may use Appendix answer the questions. to a. Calculate this bond's modified duration. Do not round intermediate calculations. Round your answer to two decimal places. years b. Assuming the bond's YTM goes from 14% to 13.0%, 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. Present Value of $1: APPENDIX. Period 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 9901 9804 97099615 9524 9434 934692599174 9091.8929 8772 .86968621 8900 8734 8573 8417 8264 7972 7695 7561 7432 9706 9423 9151 8890 8638 8396 8163.7938 7722 7513 7118 675065756407 9610 9238 8885.8548 8227 7921762973507084 68306355 5921 5718 5523 9515 9057 8626 8219 7835 7473 71306806 64996209 5674 5194 49724761 = 5vova nown 12 7903 7462 7050 6663 6302 5963 5645 50664556 4323 4104 .9327 8706 8131 7599 7107 6651 6227 5835 54705132 4523 9235 8535 7894 73076768 6274 5820 5403 501946654039 3506 91438368 7664 7026 6446 5919 543950024604 9053 8203 7441 6756 6139 5584 5083 4632 4224 3855 3220 2697 2472 2267 8963 8043 7224 6496 5847 5268 47514289 3875 35052875 2366 2149 1954 8874 7885 70146246 5568 49704440 3971 3555 31862567 2076 1869 1685 8787 7730 6810 6006 5303 4688 41503677 3262 2897 2292 1821 1625 1452 8700 7579 6611 5275 5051 4423 38783405 2992 2633 2046 1597 1413 1252 86137430 64195553 4810 4173 3624 3152 2745 2394 1827 1401 1229 1079 8528 7284 6232 53394581 39363387 2919 2519 2176 1631 1229 1069 0930 7142 60505134 4363 3714 3166 2703 2311 1978 1456 1078 0929 0802 8360 7002 5874 4936 4155 3503 2959 2502 2120 1799 1300 0946 08080691 8277 6864 5703 4746 3957 3305 2765 231 1945 1635 1161 0829 07030596 8195 6730 5537 4564 3769 3118 2584 2145 1784 1486 1037 0728 06110514 14 16 5310 18 Present Value of an Annuity of $1 Per Period for n Periods: Wumber of Payments 1% 2% 34% 56% 15% 165 non omne 22:2 2:222 =2238 0.9901 0.9804 09709 09615 0.9524 09434 09346 0.9259 09174 09091 0.8929 0.877208696 0.8621 1.9704 1.9416 191351 8861 18594 1.8334 1 8080 1.7833 1.759117355 16901 16467 16257 1.6052 2.9410288592826627751 27232 26730 26243 25771 2.5313 2.4869 2.4018 2.5216 2282 22459 5.902038077 37171 3.62993546034651 3387233121 3.2397 3.1699 30373 29137 28550 2.7982 48534 4.7135 45797 44518 4.3295 42124 4100239927 3.889737908 3.6048 34331 33522 52743 57955 5601454172 52421 5075749173 47665 462294485943553 411143887 3.784536847 6 728264720 6250360021 5.7864 55824 538935 206 5.0330 48684 4.5638 42883 41604 4.0386 76517 7.5255 70197 6.7327 6.4632 6.2098 59713 5.7466 5534 5349 49676 463894 4873 43436 85660 81622 77861 74353 7.1078 6.8017 65152 6 2469 5.9952 57590 53282 49464 4.7716 46065 9471389826 85302 1109 77217 73601 70236 6.710116416.1446 56502521610188 48932 10 3676 9768 92526 7 605 8 3064 7886974987 7.1390 6 052 64951 59377 5.4527 52337 0286 11.2551 10.5753 9954093851 88633 83838 79427 75361 7.1607 68137 6.1944 56603 5.4206 51971 12.1537 11 5484 10 6550 99856 9 3936 88527 8 3577 790387.4869 21044 64235 58424 5.5831 53423 130037 12 1062 11 2961 105631 9 8986 92950 8.7455 82442 27862 3667 6 6282 60021 7245 34675 13 8651 12 8493 11 9579 11.1184 10 3797 97122 9. 1079 5595 0607 76061 6 8109 61422 474 55755 14.7179 155777 12 5611116523 10 8 10 1059 94466 5514 3126 237 60740 6 2651 5.9542 56685 15.5623 14 2919 13 1661 12 1657 11 2741 104778 9763212165436 02161163729604725747 16 798 149920 13 7535126593 11 696 108276 100591 7 19 75568201472497646746128058178 172260 156785 14 3258 13 13 12 0853 1581 10 3556 9 036 9501 3 649 73658 6 5504 6 1982 5.8775 18 0456 16 3514 148715 13.590312 4622 14609 10 5940 98180 12885136 74694 66231 6 2599 3.9288 2 2 0252 19 5255 17 4131 15 6221 14 091912 784 11 653610 674898226 90790 8431 6729 6.4641 6.0971 25 2077 22 3965 19600417 2920 15 3725 13 7648 12 4090 112578 102737942690552 70027 6 5660 6,1772 32 8547 273555 23 1148 19.792 17 1591 150463 13 3317 11 9246 10 1574 9.77912 43471050 6 6418 62535 19 1961 314256 257298 21 422 18 2559 15 7619 13 7 122335 10.9617 9914R 3045 2132766605 62463 44955034 760927 6756 22 6235 18 9293161614 14 0392 12.3766 11 048099672324071491 66657 6.2402 25 50
