Question
A bond with a coupon rate of 6.5 percent sells at a yield to maturity of 9.2 percent. If the bond matures in 12 years,
A bond with a coupon rate of 6.5 percent sells at a yield to maturity of 9.2 percent. If the bond matures in 12 years, what is the Macaulay duration?(Round youranswer to 3 decimal places.)
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Essentials of Investments
Authors: Zvi Bodie, Alex Kane, Alan J. Marcus
10th edition
77835425, 978-0077835422
