SOA Exam FM Sample Question 429
Study guide: Exam FM-2
A bond with an annual coupon rate of 9% paid annually matures in ten years. The annual effective yield rate is 10%.
Calculate the modified duration of this bond.
- A) 6.27
- B) 6.32
- C) 6.47
- D) 6.89
- E) 7.58
Answer this question and see the worked solution