CHAPTER 18 PROBLEM 3

FINANCE  Investment Analysis and Portfolio Management CHAPTER 18 PROBLEM 3
 Calculate the duration of an 8 percent, $1,000 par bond that matures in three years if the   bond's         YTM is 10 percent and interest is paid semiannually.  
       a. Calculate this bond's modified duration.      
   b. Assuming the bond's YTM goes from 10 percent to 9.5 percent calculate an estimate of   the price change.

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