Consider a 30-year corporate bond paying 9 percent semi-annual coupon The current yield to maturity

/in /by


Consider a 30-year corporate bond paying 9 percent semi-annual coupon The current yield to maturity is 11 percent

a Find the modified duration

b Refer to part a If the interest changes by 25 basis points, what is the exact change in price?

c Refer to part b If the interest changes by 25 basis points, what is the approximate change in price?

 
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