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1)The yield to maturity of a 15-year zero coupon bond that is selling for $405.91 with a value at maturity of $1,000 is ________. Write
1)The yield to maturity of a 15-year zero coupon bond that is selling for $405.91 with a value at maturity of $1,000 is ________. Write your answer in percent, omit the "%" sign, and round your answer to two decimal places.
2) You have an investment that in today's dollars returns 16% of your investment in year 1, 14% in year two, 8% in year 3 and the remainder in year 4. What is the duration of this investment? Round your answer to two decimal places and omit years.
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