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| rev | Admin | (Created page with "A bond has a modified duration of 8 and a price of 112,955 calculated using an annual effective interest rate of 6.4%. <math>E_{MAC}</math> is the estimated price of this bond at an interest rate of 7.0% using the first-order Macaulay approximation. <math>E_{MOD}</math> is the estimated price of this bond at an interest rate of 7.0% using the first-order modified approximation. Calculate <math>E_{MAC}-E_{MOD}</math>. <ul class="mw-excansopts"><li>91</li><li>102</li><li...") | Nov 20'23 at 1:06 | +539 |