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A bond has a current price of $1,030. The yield on the bond is 8%. If the yield changes from 8% to 8.1%, the price of the bond will go down to $1,025.88. The modified duration of this bond is ________.
Egypt
A country in North Africa, known for its ancient civilization, pyramids, and the Nile River.
Le Bon
A reference to Gustave Le Bon, a French social psychologist best known for his work on crowd psychology and the psychology of revolution.
Large Crowds
refers to gatherings of a considerable number of individuals in a specific location, which can influence behavior, mentality, and social dynamics.
Milgram
Refers to Stanley Milgram, a psychologist known for his experiments on obedience, demonstrating how people are willing to follow authorities even to the extent of harming others.
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