What is the duration of the bond in the previous problem if coupons are paid annually? E...

What is the duration of the bond in the previous problem if coupons are paid annually? Explain why the duration changes in the direction it does.

Previous problem. Find the duration of a bond with settlement date May 27, 2010, and maturity date November 15, 2019. The coupon rate of the bond is 7%, and the bond pays coupons semiannually. The bond is selling at a yield to maturity of 8%. You can use Spreadsheet 11.2 , available at www.mhhe.com/bkm; link to Chapter 11 material.