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  3. a. find the duration of a 7% coupon bond making an

a. Find the duration of a 7% coupon bond making annual coupon payments if it...

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a. Find the duration of a 7% coupon bond making annual coupon payments if it has three years until maturity and has a yield to maturity of 7%. Note: The face value of the bond is $1,000. (Do not round intermediate calculations. Round your answers to 3 decimal places.) 7% TM years b. What is the duration if the yield to maturity is 8.4%? Note: The face value of the bond is $1,000. (Do not round intermediate calculations. Round your answers to 3 decimal places.) 8.4% M years

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