A bond has a Macauley’s Duration of 5.5 years, a yield of 6%,and a full price (price plus accrued in

A bond has a Macauley’s Duration of 5.5 years, a yield of 6%,and a full price (price plus accrued interest) of 95.50. It payscoupons semiannually. (a)    Calculate its modified duration. (b) Calculate its dollar duration. (c)   By approximately how much will the price changeif its yield decreases to 5.8%? Ignore convexity effects. . . .

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