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prepnuggets.com
Approximate modified duration - PrepNuggets
Modified duration of a bond that is calculated using the approximate method by calculating the change in prices for a small change in yield-to-maturity in both directions (V– ,V ) ApproxModDur = (V– – V ) / (2 x V0 x ΔYTM) See also: Convexity adjustment
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DURATION definition in American English | Collins English Dictionary
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