Answer:
x = -9
Step-by-step explanation:
First, divide both sides by 12 to isolate the expression, x + 11
12(x + 11)/12 = 24/12
x + 11 = 2
Then, subtract 11 from both sides
x + 11 = 2
- 11 - 11
x = -9
this answer is this right here x=1
Answer:
The corresponding change in bond price = 17.1%
Step-by-step explanation:
In this question, we are interested in calculating the percentage change in the bond price using the approximation method based on bond duration;
Mathematically;
% change in bond price = Duration * Change in yield
From the question;
Duration = 19 years
Change in yield = 0.9%
Thus;
% change in bond price = 19 * 0.9% = 17.1%