(Answered) A newly issued non-callable fixed-rate bond with 30-year

Management Studies

A newly issued non-callable, fixed-rate bond with 30-year maturity carries a coupon rate of5.5% and trades at par. Its (Macaulay) duration is 15.33 years and its convexity is 321.03.

Consider semi-annual compounding, what is the bond's modified duration?

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