A bond pays annual interest. Its coupon rate is 8.3%. Its value at maturity is $1,000....

A bond pays annual interest. Its coupon rate is 8.3%. Its value at maturity is $1,000. It matures in 4 years. Its yield to maturity is currently 5.3%. The modified duration of this bond is ______ years.

Expert Solution

SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

As nothing is mentioned, i have rounded modified duration to 4 decimals.

jeff jeffy answered 1 year ago

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