SEMESTER 1 2023
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Calculation
FV = 1 000
PV = - 937
N=5x2
PMT = 60 (0.12 x 1 000 = 120 /2)
Comp I/Y = 6.89 x 2 = 13.78
Calculation
Price change = - (duration) (yield in decimals)
Price change = - (5.4) (-0.002) = 0.0108
New price = 985(1 +0.0108) = R 995.64