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The purpose of the next question is to have you work a simple bond pricing and duration problem without using Excel’s formulas or the fancy formulas in the textbook. Work the following problem term by term. Calculate each term in the basic formulas, then add them to come up with the price or duration.

Suppose you have a 5% coupon bond with a ytm of 3 percent and a term-to-maturity of 3 years. The bond pays its coupon ANNUALLY (once per year) and has a face value of $1,000. What is this bond’s price? What is it duration.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92688759

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