Question
A bond currently sells for $1,160, which gives it a yield to maturity of 6%. Suppose that if the yield increases by 30 basis points,
A bond currently sells for $1,160, which gives it a yield to maturity of 6%. Suppose that if the yield increases by 30 basis points, the price of the bond falls to $1,135. What is the duration of this bond? Round answer to 4 decimal places.
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Analysis For Financial Management
Authors: Robert C. Higgins
10th International Edition
007108648X, 9780071086486
