Input the parameters in response to questions: Input coupon dollars per year: 6 Input initial yield-to-maturity in percent per year: 9 Input frequency of coupon payment per year: 2 Input term-to-maturity in years: 25 Input face (or redemption) value in dollars and cents: 100 Input price in dollars and cents for verification: The program calculates the price. Therefore the input is redundant. It defaults to 0.0. 0 Input the expected change in yield in basis points: If the expected change is zero, input 0. 30 You have input the following parametric values: Coupon dollars p.a. = 6.000000 Yield-to-maturity p.a. = 9.000000 Coupon payment frequency p.a. = 2.000000 Term-to-maturity in years = 25.000000 Face (redemption) value of bond = 100.000000 (Redundant) Price of bond = 0.000000 Expected change in yield in BPs = 30.000000 The results are: Price [calculated here] = 70.356988 Macaulay duration in frequency-periods = 22.190678 Macaulay duration in years = 11.095339 Modified duration in years = 10.617549 Dollar duration = -747.018800 ?Price value (Duration) of a basis point = -0.074702 Second derivative = 51476.261257 Convexity in frequency-periods = 731.643899 Convexity in years = 182.910975 Dollar convexity = 12869.065314 ?Price value (Convexity) of a basis point = 0.000064 % Price change (Duration) for 30 BPs = -3.185265% % Price change (Convexity) for 30 BPs = 0.082310% % Price change (Dur + Con) for 30 BPs = -3.102955% New Price at the new YTM of 9.300000% = 68.172661 % Price change (True) for 30 BPs = -3.104635% Dispersion (M^2) in frequency-periods^2 = 284.356548 Dispersion (M^2) in years^2 = 71.089137 Do you want another calculation? Answer YES(yes) or NO(no). YES Input the parameters in response to questions: Input coupon dollars per year: 6 Input initial yield-to-maturity in percent per year: 9 Input frequency of coupon payment per year: 2 Input term-to-maturity in years: 25 Input face (or redemption) value in dollars and cents: 100 Input price in dollars and cents for verification: The program calculates the price. Therefore the input is redundant. It defaults to 0.0. 0 Input the expected change in yield in basis points: If the expected change is zero, input 0. -30 You have input the following parametric values: Coupon dollars p.a. = 6.000000 Yield-to-maturity p.a. = 9.000000 Coupon payment frequency p.a. = 2.000000 Term-to-maturity in years = 25.000000 Face (redemption) value of bond = 100.000000 (Redundant) Price of bond = 0.000000 Expected change in yield in BPs = -30.000000 The results are: Price [calculated here] = 70.356988 Macaulay duration in frequency-periods = 22.190678 Macaulay duration in years = 11.095339 Modified duration in years = 10.617549 Dollar duration = -747.018800 ?Price value (Duration) of a basis point = -0.074702 Second derivative = 51476.261257 Convexity in frequency-periods = 731.643899 Convexity in years = 182.910975 Dollar convexity = 12869.065314 ?Price value (Convexity) of a basis point = 0.000064 % Price change (Duration) for -30 BPs = 3.185265% % Price change (Convexity) for -30 BPs = 0.082310% % Price change (Dur + Con) for -30 BPs = 3.267575% New Price at the new YTM of 8.700000% = 72.657178 % Price change (True) for -30 BPs = 3.269313% Dispersion (M^2) in frequency-periods^2 = 284.356548 Dispersion (M^2) in years^2 = 71.089137 Do you want another calculation? Answer YES(yes) or NO(no). no Program DURCON1 exiting normally.