Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In 2011, OSU became the first public university to issue a century bond (with 100 years to maturity). For relevant information, refer to the Wall

In 2011, OSU became the first public university to issue a century bond (with 100 years to maturity). For relevant information, refer to the Wall Street Journal article (http://online.wsj.com/news/articles/SB10001424052970203752604576641693067078706).

(a) Get the information on the OSUs century bond from FINRA (http://finra-markets.morningstar.com/BondCenter/BondDetail.jsp?ticker= M9911285253977&symbol=) Based on the Last Trade Yield, confirm that the Last Trade Price is the clean price.

(b) Given the issuance details of this bond (offering date, offering price, etc), calculate the modified duration when this bond was issued.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Public Finance And Public Policy

Authors: Jonathan Gruber

6th Edition

1319105254, 9781319105259

More Books

Students also viewed these Finance questions