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Compute the duration for Bond C and rank the bonds on the basisof their price volatility. The current rate of interest is 8percent, so the prices of Bonds A and B are $1,000 and $1,268,respectively. Bond Coupon Term Duration A 8% 10years 7.25 B 12% 10years 6.74 C 8% 5years ?Confirm your ranking by calculating the percentage change in theprice of each bond when interest rates rise from 8 to 12 percent.(Bond A’s and B’s prices become $774 and $1,000, respectively).