Question
TRX Inc.'s $1,000 face value 9% coupon bond has remaining maturity of 11 months. It pays coupon every 4 months. Annual interest rates for upcoming
TRX Inc.'s $1,000 face value 9% coupon bond has remaining maturity of 11 months. It pays coupon every 4 months. Annual interest rates for upcoming coupon payment dates are 8%, 11%, and 10% and the current yield curve downward slopping. Calculate the duration of the bond.
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
