Question
A 12-year, 8 percent bond with a YTM of 11.76 percent has a Macaulay duration of 9.36 years. If interest rates decline by 50 basis
A 12-year, 8 percent bond with a YTM of 11.76 percent has a Macaulay duration of 9.36 years. If interest rates decline by 50 basis points, what will be the percent change in price for this bond?
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Fundamentals Of Investments Valuation And Management
Authors: Bradford D Jordan, Thomas W. Miller Jr., Steven D. Dolvin
6th Edition
0073530719, 9780073530710
