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| rev | Admin | (Created page with "'''Solution: C''' Let <math>i</math> be the yield rate. Then, <math display = "block"> \begin{aligned} & 3609.29=2000(2 i) a_{\overline{30}|i}+2250(1+i)^{-30} \\ & =4000\left[1-(1+i)^{-30}\right]+2250(1+i)^{-30} \\ & (1+i)^{-30}=(4000-3609.29) /(4000-2250)=0.22326 \\ & i=0.22326^{-1 / 30}-1=0.051251 . \end{aligned} </math> Modified duration is Macaulay duration divided by one plus the yield rate: <math>14.14 / 1.051251=</math> 13.71. {{soacopyright | 2023 }}") | Nov 20'23 at 13:55 | +465 |