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Problem 13-01 Calculate the Macaulay duration of an 8%, $1,000 par bond that matures in three years if the bond's YTM is 12% and interest

Problem 13-01 Calculate the Macaulay duration of an 8%, $1,000 par bond that matures in three years if the bond's YTM is 12% and interest is paid semiannually. I have the answer, 2.71

Calculate this bond's modified duration. Do not round intermediate calculations. Round your answer to two decimal places. Assuming the bond's YTM goes from 12% to 10.5%, calculate an estimate of the price change. Do not round intermediate calculations. Round your answer to three decimal places. Use a minus sign to enter a negative value, if any.

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