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A $1000 par, semiannual-pay bond has a current price of $1100 has a modified duration of 5.96. What is the dollar value of an 01?
A $1000 par, semiannual-pay bond has a current price of $1100 has a modified duration of 5.96. What is the dollar value of an 01?
The correct answer is 0.6556. How do you get that? The answer I'm getting is 0.6336.
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