Jefferson-Smith Bonds Are Quoted at a Price of $952

question 84

Multiple Choice

Jefferson-Smith bonds are quoted at a price of $952.42 for a $1,000 face value bond.These bonds have a modified duration of 9.84.What is the dollar value of an 01?

• A) $0.0977
• B) $0.0963
• C) $0.1028
• D) $0.9372
• E) $0.9767

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