Question
A bond with a coupon rate of 7 percent sells at a yield to maturity of 8 percent. If the bond matures in 11 years,
A bond with a coupon rate of 7 percent sells at a yield to maturity of 8 percent. If the bond matures in 11 years, what is the Macaulay duration of the bond? What is the modified duration?
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Principles of Managerial Finance
Authors: Chad J. Zutter, Scott B. Smart
15th edition
013447631X, 134476315, 9780134478197 , 978-0134476315
