Question
What is the Macaulay duration of a 7.2 percent coupon bond with five years to maturity and a current price of $937.80? What is the
What is the Macaulay duration of a 7.2 percent coupon bond with five years to maturity and a current price of $937.80? What is the modified duration? (Round your answer to 3 decimal places.)
|
Duration | |
Macaulay | Years |
Modified | Years |
This is my second time posting this same question because the first response I received on here was wrong. PLEASE PLEASE do not reply unless you are absolutely positive that you're right. If you do answer the question and you're wrong, I would greatly appreciate it if you would rework your problem until its correct.
The first answer from a Chegg expert that was WRONG was: Macaulay duration : 4.349 years These answers are INCORRECT!!!
Modified duration : 3.998 years
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