Documente Academic
Documente Profesional
Documente Cultură
-30%
-40%
-50%
-10.0% -5.0% 0.0% 5.0% 10.0% 15.0%
Graph Outputs Change in Yield To Maturity
Yield to Maturity (Annualized) 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0%
Discount Rate / Period 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5%
Change in Yield to Maturity -8.0% -7.0% -6.0% -5.0% -4.0% -3.0% -2.0%
Actual Bond Price $1,156 $1,115 $1,075 $1,037 $1,000 $965 $931
Current Bond Price $868 $868 $868 $868 $868 $868 $868
Actual Percent Change in Price 33.2% 28.4% 23.8% 19.4% 15.2% 11.2% 7.3%
Modified Duration 3.49 3.49 3.49 3.49 3.49 3.49 3.49
Duration Approximation 27.9% 24.4% 20.9% 17.4% 14.0% 10.5% 7.0%
ion
Actual Percent
Change in Price
Duration
Approximation
8.0% 9.0% 10.0% 11.0% 12.0% 13.0% 14.0% 15.0% 16.0% 17.0% 18.0% 19.0%
4.0% 4.5% 5.0% 5.5% 6.0% 6.5% 7.0% 7.5% 8.0% 8.5% 9.0% 9.5%
-1.0% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 10.0%
$899 $868 $838 $810 $783 $756 $731 $707 $684 $662 $640 $620
$868 $868 $868 $868 $868 $868 $868 $868 $868 $868 $868 $868
3.6% 0.0% -3.4% -6.7% -9.8% -12.9% -15.8% -18.5% -21.2% -23.8% -26.2% -28.6%
3.49 3.49 3.49 3.49 3.49 3.49 3.49 3.49 3.49 3.49 3.49 3.49
3.5% 0.0% -3.5% -7.0% -10.5% -14.0% -17.4% -20.9% -24.4% -27.9% -31.4% -34.9%
20.0%
10.0%
11.0%
$600
$868
-30.9%
3.49
-38.4%