Question
A bond with a coupon rate of 9 percent sells at a yield to maturity of 10 percent. If the bond matures in 10 years,
A bond with a coupon rate of 9 percent sells at a yield to maturity of 10 percent. If the bond matures in 10 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.)
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Understanding financial statements
Authors: Lyn M. Fraser, Aileen Ormiston
9th Edition
136086241, 978-0136086246
