I'm working on some practice problems for an exam and cant figure this problem out. If anybody can help I would appreciate it.
A bond has a face value of $1000, an annual coupon rate of 3.70%, an yield to maturity of 7.4%,makes 2 (semi annual) coupon payments per year, and 6 periods to maturity (or 3 years to maturity). Determine the duration of this bond.
A bond has a face value of $1000, an annual coupon rate of 3.70%, an yield to maturity of 7.4%,makes 2 (semi annual) coupon payments per year, and 6 periods to maturity (or 3 years to maturity). Determine the duration of this bond.
