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done on a piece of paper with steps 6. Calculate the modified duration and Macaulay duration of a $100 12-year bond with: (a) semi-annual coupons
done on a piece of paper with steps 
6. Calculate the modified duration and Macaulay duration of a $100 12-year bond with: (a) semi-annual coupons at coupon rate 8%, if it is purchased for a yield of j2 = 8%. (2 points) (b) Zero coupons, with a yield of 6%. [2 points) Step by Step Solution
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Fundamentals of Financial Management
Authors: Eugene F. Brigham
Concise 9th Edition
1305635937, 1305635930, 978-1305635937
