Question
A bond with a coupon rate of 7 percent sells at a yield to maturity of 9 percent. If the bond matures in 15 years,
A bond with a coupon rate of 7 percent sells at a yield to maturity of 9 percent. If the bond matures in 15 years, what is the Macaulay duration of the bond? What is the modified duration? (Do not round intermediate calculations. Round your answers to 3 decimal places.)
Please help I have posted this question four times.
The answer is not Macaulay Duration: not 9.238 or 11.526 or 12.130 or 11.463
Modified Duration: not 8.475 or 10.574 or 11.131 or 10.508
A bond with a coupon rate of 7 percent sells at a yield to maturity of 9 percent. If the bond matures in 15 years, what is the Macaulay duration of the bond? What is the modified duration? (Do not round intermediate calculations. Round your answers to 3 decimal places.) Step by Step Solution
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New York Institute Of Finance How Mutual Funds Work
Authors: Albert J. Fredman, Russ Wiles
1st Edition
0130125016, 9780130125019
