(Answered) Consider a 30-year corporate bond paying 9 percent

Finance

Consider a 30-year corporate bond paying 9 percent semi-annual coupon. The current yield to maturity is 11 percent.

a. Find the modified duration.

b. Refer to part a. If the interest changes by 25 basis points, what is the exact change in price?

c. Refer to part b. If the interest changes by 25 basis points, what is the approximate change in price?

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