set formula:
15x +75 = 6x
bring x to left side:
15x - 6x + 75 = 0
9x = - 75
x = - 75/9
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15 + 14 + 14 + 11 + 2x + x = 75 Collect like terms 54 + 3x = 75 Subtract 54 3x = 21 Divide by 3 x = 7 ■
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3 years zero coupon bond. face value $100 and present market value $75. What will be its Macualay Duration and Modified Duration?
In 3x = 96 - 75 the "x" stands for the number which, when multiplied by 3, equals the difference between 96 and 75. 96 - 75 = 21 If 3x = 21 then x = 21 divided by 3, or 7
3x = (96-75) 3x = 21So X = 7