Problem $16-19($Algo$)$

Find the duration of a bond with a settlement date of May $27,2025,$ and maturity date November $15,2036.$ The coupon rate of the

bond is $8\mathrm{.}5\%,$ and the bond pays coupons semiannually. The bond is selling at a bond$-$equivalent yield to maturity of $9\mathrm{.}5\%.$ Use

Spreadsheet $16\mathrm{.}3$

N$$t$$: Do $$ot ro$$nd intermediate calculations. Round your answers to $2$ decimal places.Find the duration of a bond with a settlement date of May $27,2025,$ and maturity date November $15,2036.$ The coupon rate of the

bond is $8\mathrm{.}5\%,$ and the bond pays coupons semiannually. The bond is selling at a bond$-$equivalent yield to maturity of $9\mathrm{.}5\%.$ Use

Spreadsheet $16\mathrm{.}3$

N$$te:: Do n$$t ro$$nd intermediate calculations. Round your answers to $2$ decimal places.

Macaulay duration

Modified durationUsing Excel functions to compute duration

$\backslash$table$[[,$A$,$B$,$C$],[1,$Inputs,,Formula in column B$],[2,$Settlement date,$1/1/2000,=$DATE$(2000,1,1)],[3,$Maturity date,$1/1/2002,=$DATE$(2002,1,1)],[4,$Coupon rate,$0\mathrm{.}08,0\mathrm{.}08],[5,$Yield to maturity,$0\mathrm{.}10,0\mathrm{.}10],[6,$Coupons per year,$2,2],[7,$Outputs,,$],[8,$Macaulay duration,$1\mathrm{.}8852,=$DURATION$($B$2,$B$3,$B$4,$B$5,$B$6)],[9,$Modified duration,$1\mathrm{.}7955,=$MDURATION$($B$2,$B$3,$B$4,$B$5,$B$6)]]$