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A $1,000 par value bond pays an annual coupon of 10.0% and matures in 4 years . If the bond sells toyield 7% , what
A$1,000par value bond pays an annualcouponof10.0%and matures in4 years. If the bond sells toyield7%, what is themodified durationof thisbond?
a) The regulardurationis:
b) Themodified durationis:
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Fundamentals of Investment Management
Authors: Geoffrey Hirt, Stanley Block
10th edition
0078034620, 978-0078034626
