Question
A bond pays 11.68% semi-annual coupon for 6 years and is priced at $99.66. Face value of this bond is $100. What is the modified
A bond pays 11.68% semi-annual coupon for 6 years and is priced at $99.66. Face value of this bond is $100. What is the modified duration of the bond? Also calculate the same using the approximate formula
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Foundations Of Financial Markets And Institutions
Authors: Frank J Fabozzi, Franco G Modigliani, Frank J Jones
4th Edition
0136135315, 978-0136135319
