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Include ALL decimal points A bond currently sells for $1,150, which gives it a yield to maturity of 5%. Suppose that if the yield increases
Include ALL decimal points 
A bond currently sells for $1,150, which gives it a yield to maturity of 5%. Suppose that if the yield increases by 10 basis points, the price of the bond falls to $1130 What is the modified duration of this bond? (Do not round intermediate calculations. Round your answer to 4 decimal places.) Modified duration years Step by Step Solution
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Small Business Finance
Authors: Confederation College
1st Edition
1552700925, 9781552700921
