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The information of Maximum Savings Bank is given below: Average duration of assets equals 4.6 years Market value of assets equals $2,103,914 Average duration of
The information of Maximum Savings Bank is given below:
Average duration of assets equals 4.6 years
Market value of assets equals $2,103,914
Average duration of liabilities equals 3.2 years
Market value of liabilities equals $1,958,176
Weighted average asset returns 8.6%
Compute the duration of equity if interest rate decreases by 54 basis points.
Please round the answer until TWO decimal places.
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