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You find a bond with 19 years until maturity that has a coupon rate of 8 percent and a yield to maturity of 7 percent. What is the Macaulay duration? The modified duration? (Do not round intermediate calculations. Round your answers to 3 decimal places.) Answer is complete but not entirely correct. Macaulay Modified Duration 10.775 years 10.070 years

You find a bond with 19 years until maturity that has a coupon rate of 8 percent and a yield to maturity of 7 percent. What is the Macaulay duration? The modified duration? (Do not round intermediate calculations. Round your answers to 3 decimal places.) Answer is complete but not entirely correct. Macaulay Modified Duration 10.775 years 10.070 years

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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You find a bond with 19 years until maturity that has a coupon rate of 8 percent and a yield to maturity of 7 percent. What is the Macaulay duration? The modified duration? (Do not round intermediate calculations. Round your answers to 3 decimal places.) Answer is complete but not entirely correct. Macaulay Modified Duration 10.775 10.070 que years years
Transcribed Image Text:You find a bond with 19 years until maturity that has a coupon rate of 8 percent and a yield to maturity of 7 percent. What is the Macaulay duration? The modified duration? (Do not round intermediate calculations. Round your answers to 3 decimal places.) Answer is complete but not entirely correct. Macaulay Modified Duration 10.775 10.070 que years years
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