Present Value of $1: APPENDIX C 1% 2% 3% 4% 5% 9901 .9804 9709 .9524 .9434 9346 9259 .9174 9091 8929 8772 .8696 8621 9803 9612 -9246 .9070 .8900 8734 8573 .8417 8264 .7972 .7695 .7561 9706 .9423 -8890 .8396 8163 .6575 6407 9610 .9238 8885 8548 .8227 .7921 .7350 .7084 6830 .6355 9515 .9057 8626 .8219 .7473 .7130 6806 .6499 .6209 5674 5194 .4972 4761 .8375 9235 .8535 .7894 5820 3506 3269 .3050 9143 .8368 .7026 .5919 5439 .5002 4604 -4241 -3606 .3075 .2630 10 7441 6756 6139 .5584 5083 -4224 -3855 3220 11 8963 .8043 .4289 3505 .2875 2366 2149 .1954 12 8874 .7885 7014 6246 .5568 4970 4440 3186 2567 .2076 .1869 .1685 13 8787 .7730 .5303 -4688 2292 .1821 .1625 .1452 14 8700 .7579 6611 .5775 .5051 .4423 .3878 15 4810 .4173 3624 16 17 8444 .7142 .4363 3714 3166 2703 2311 .1978 1456 .1078 .0929 .0802 18 8360 .7002 4936 .4155 .3503 .2959 2502 2120 .1799 .1300 0946 .0691 19 8277 .6864 .5703 4746 .3957 0703 0596 20 Present Value of an Annuity of $1 Per Period for a Periods: Number of Payments 2% 3% 4% 5% 9% 10% 12% 15% 0.9901 0 9804 0.9709 0 9454 0.9546 0.9259 0.9174 0.8621 1.9704 1.9416 1 8594 1.8354 1.7833 1 6901 1.6467 1 6257 1.6052 2.9410 24018 2.3216 2 2812 2.2459 3.9020 3.7171 3.6299 34651 3 3121 3 0373 2.9137 2.8550 2.7982 3 6048 3.4531 5.9522 3.4172 $ 2421 4 1114 3.7845 64720 6.2303 5.5824 5 2064 5.0330 4.5638 7.6517 7.3255 7.0197 6.4632 5.7466 4.9676 4.4873 4.3450 8 5660 8 1632 74953 7.1078 4.7716 4.6065 9 4713 8 9826 8 5302 7 3601 6.7101 5 6502 4.8192 10.3676 8.5064 7.4987 7.1390 6.8052 6 4951 5.9377 5.2337 5.0286 11.2351 10.5753 9.3851 4.8635 7.9427 7.5361 6.8137 5.6603 5 1971 12.1357 11 3484 10 6450 7.9038 6.4235 5.8424 5.5831 5.3425 13.0037 12 1062 11 2961 10 5631 9 2950 8.7455 6 6282 5.7245 5 4675 12 8493 11.9379 10.3797 9.7122 6.8109 5.8474 13.5777 12 5611 11.6523 10.8378 10 1059 6.9740 14 2919 15.1661 12 1657 11 2741 9.7652 9.1216 8 0216 6 3729 5.74HT 14 9920 12 6593 11 6896 93719 7.2497 64674 6.1280 5.8178 15 6785 14 3238 13-1359 12 0853 10.3356 9.6036 8.3649 7.3658 6. 1982 5.8775 135903 12 4622 9.1285 8.5136 6.2594 5.9288 12.0232 19 5235 17.4131 15.6221 14 0939 12 7834 11.6536 9.0770 6.0971 25.8077 19.6004 17 2920 12.4090 9.4269 80557 6.1772 32.8347 23.1148 19.7928 17.1591 15 0463 13 3517 11.9246 10.7574 8 2438 7.1050 6.2335 19.1961 21.4822 15 7619 13 8007 12 2335 10 9617 9.9148 8.3045 6.2465 27.6756 22:6235 18.9293 16 1614 12 3766 11 0480 6.2402Calculate the Macaulay duration of an 3%, $1,000 par bond that matures in three years if the bond's YTM is 14% and interest is paid semiannually. You may use Appendix C to answer the questions. a. Calculate this bond's modied duration. Do not round intermediate calculations. Round your answer to two decimal places. years b. Assuming the bond's YTM goes from 14% to 13.5%, calculate an estimate of the price change. Do not round intem'lediate calculations. Round your answer to three decimal places. Use a minus sign to enter negative value, if any. %