Question
Estimate the effective duration for a 22-year, USD note previously issued by Altria with a coupon of 4.50% (payable semiannual) priced to yield @ 3.75%.
Estimate the effective duration for a 22-year, USD note previously issued by Altria with a coupon of 4.50% (payable semiannual) priced to yield @ 3.75%. Shock annual yields +/- 1%. Use any par value desired.
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Financial Markets And Institutions
Authors: Anthony Saunders, Marcia Cornett
5th Edition
0078034663, 978-0078034664
