Question
A bond with a duration of 8 has a current price of $1185.04, and its yield to maturity is 7.52%. If the yield to maturity
A bond with a duration of 8 has a current price of $1185.04, and its yield to maturity is 7.52%. If the yield to maturity changes to 7.21%, you would predict that the new value of the bond will be _________. State your answer as a dollar amount with two decimal places.
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs
11th edition
134141083, 978-0134141084
