Required rate of return on a bond

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You have discovered that when the required rate of return on a bond you own fell by 0.5 percent from 8.3 percent to 7.8 percent, the fair present value rose from $955 to $975. What is the duration of this bond? Assume annual payments.

Reference no: EM13720180

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Required rate of return on a bond : You have discovered that when the required rate of return on a bond you own fell by 0.5 percent from 8.3 percent to 7.8 percent, the fair present value rose from $955 to $975. What is the duration of this bond? Assume annual payments.

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