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Business, 28.06.2021 17:00 mitchellmarquite

A bond has a modified duration of 8 and a price of 112,955 calculated using an annual effective interest rate of 6.4%. EMAC is the estimated price of this bond at an interest rate of 7.0% using the first-order Macaulay approximation. EMOD is the estimated price of this bondat an interest rate of 7.0% using the first-order modified approximation. Calculate EMAC - EMOD A. 91 B. 102 C. 116 D. 127 E. 143

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