Question
Betty and Bob purchase a bond for $1,000 which yields 10% per annum compounded semiannualy and has a Macaulay Duration of 20 years. If interest
Betty and Bob purchase a bond for $1,000 which yields 10% per annum compounded semiannualy and has a Macaulay Duration of 20 years. If interest rates increase to 10.5 % per annum compounded semiannually then algebraically approximate the new price of the bond.
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Financial Management for Public Health and Not for Profit Organizations
Authors: Steven A. Finkler, Thad Calabrese
4th edition
133060411, 132805669, 9780133060416, 978-0132805667
