easy · Quantitative Finance qf-core
A 3-year bond has a face value of 1,000, an annual coupon of 8%, and a yield to maturity of 6%.
If the bond's price is 1,053.46 and its Macaulay duration is 2.78 years, what is its modified duration?
- 2.78 years
- 2.62 years
- 3.00 years
- 2.95 years
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