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A bond with a coupon rate of 12 percent sells at a yield to maturity of 14 percent. If the bond matures in 12 years,
A bond with a coupon rate of 12 percent sells at a yield to maturity of 14 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 Investments Valuation and Management
Authors: Bradford D. Jordan, Thomas W. Miller
5th edition
978-007728329, 9780073382357, 0077283295, 73382353, 978-0077283292
