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Problem 11-24A 30-year maturity bond making annual coupon payments with acoupon rate of 14% has duration of 10.53 years and convexity of192.2. The bond currently sells at a yield to maturity of 9%.Required:(a)Find the price of the bond if its yield to maturity falls to 8%or rises to 10%. (Round your answers to 2 decimal places.Omit the "$" sign in your response.) Yield to maturity of 8%$ Yield to maturity of 10%$ (b)What prices for the bond at these new yields would be predictedby the duration rule and the duration-with-convexityrule?(Round your answers to 2 decimal places. Omit the "$"sign in your response.)Duration ruleDuration-with-convexity rule YTM falls to 8%$ $ YTM increases to 10%$ $ (c)What is the percent error for each rule? (Round youranswers to 3 decimal places. Omit the "%" sign in yourresponse.)Duration ruleDuration-with-convexity rule Percent error for 8% YTM% % Percent error for 10% YTM% % (d)What do you conclude about the accuracy of the two rules?