An n year 1000 bond is purchased at par The Macaulay duration is 7 9 years using an annual effective interest rate of 7 Compute the estimated price (value) of the bond, using duration, if the interest rate rises to 7 1 (please do not use excel)

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An n-year 1000 bond is purchased at par. The Macaulay duration is 7.9 years using an annual effective interest rate of 7%. Compute the estimated

An n-year 1000 bond is purchased at par. The Macaulay duration is 7.9 years using an annual effective interest rate of 7%. Compute the estimated price (value) of the bond, using duration, if the interest rate rises to 7.1%. (please do not use excel)

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