GitmanJoehnk_480171_IM_auMS11
Then calculate the price change with the following formula: % change in bond price –1 Modified duration change in interest rates (a) Bond with duration of 8.46 years with YTM of 7.5%: Modified duration % change in bond price –1 7.87 –0.5% 3.935% (b) Bond with duration of 9.30 years with YTM of 10%: ................
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