Question
A bond with a coupon rate of 10 percent sells at a yield to maturity of 12 percent. If the bond matures in 12 years,
A bond with a coupon rate of 10 percent sells at a yield to maturity of 12 percent. If the bond matures in 12 years, what is the Macaulay duration of the bond? What is the modified duration?
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Fundamentals Of Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
13th Edition
1265553602, 978-1265553609
