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A bond with a coupon rate of 10 percent sells at a yield to maturity of 12 percent. If the bond matures in 11 years,
A bond with a coupon rate of 10 percent sells at a yield to maturity of 12 percent. If the bond matures in 11 years, what is the Macaulay duration? Note: Do not round intermediate calculations. Round your answer to 3 decimal places
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Financial Management Theory and Practice
Authors: Eugene F. Brigham, Michael C. Ehrhardt
16th edition
1337902608, 978-1337902601
