Question
A $1,000 bond has three years to maturity and has a coupon rate of 15 percent. Coupon payments are made annually. The bond is currently
A $1,000 bond has three years to maturity and has a coupon rate of 15 percent. Coupon payments are made annually. The bond is currently selling in the market for $1,072 and has a yield-to-maturity of 12%. What is the duration of this bond?
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Foundations Of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
17th Edition
126001391X, 978-1260013917
