On December 31, the trial balance shows wages expense of $1,050. An additional $350 of wages was earned by the employees, but ha
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Answer:
convexity = 37.6306
Explanation:
given data:
maturity time = 7 years
yield to maturity (y) = 8% = 0.08
coupon bond = 6%
price= $89.59 ( gotten from the summation of pv(cf) from the table attached below )
t = time
convexity can be found using this formula
= = 37.6306
