Suppose that if the yield increases by 25 the price of the, Financial Management

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Suppose that if the yield increases by 25 the price of the

A bond currently sells for $975, which gives it a yield to maturity of 6%. Suppose that if the yield increases by .25%, the price of the bond falls to $954. What is the duration of this bond? Round your answer to three decimal places. (Hint: the percentage price change is a function of duration and change in yield)

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Financial Management: Suppose that if the yield increases by 25 the price of the

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Financial Management: Suppose that if the yield increases by 25 the price of the

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