Question

Find the duration of a bond with settlement date June 9, 2016, and maturity date December 11, 2025. The coupon

rate of the bond is 8%, and the bond pays coupons semiannually. The bond is selling at a yield to maturity of 9%. (Do not round intermediate calculations. Round your answers to 4 decimal places.)

  Macaulay duration. ________

Modified duration. ______

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