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  3. a) in the bond valuation section of our class, we

a) In the bond valuation section of our class, we learned a concept called duration....

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Finance

a) In the bond valuation section of our class, we learned a concept called duration. In your own words explain the two definitions we learned in class for duration.

b) Calculate the duration of a bond with the following characteristics by using the template in Excel face value = $1000, 8 year bond with coupon rate=9%, yield to maturity = 9%

c) Increase your bonds coupon by 1% (from part b) and calculate the new duration. What happens to the duratio

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