For an 18-year, 3.09% annual-pay bond currently trading at par, calculate the approximate modified duration based on a change in yield of 29 basis points. A. 11.6 B. 12.6 C. 13.6 D. 14.6
For an 18-year, 3.09% annual-pay bond currently trading at par, calculate the approximate modified duration based on a change in yield of 29 basis points. A. 11.6 B. 12.6 C. 13.6 D. 14.6
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter12: Investing In Stocks And Bonds
Section: Chapter Questions
Problem 6FPE
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For an 18-year, 3.09% annual-pay bond currently trading at par, calculate the approximate modified duration based on a change in yield of 29 basis points.
A.
11.6
B.
12.6
C.
13.6
D.
14.6
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