Nominal Value	100			
Maturity	5			
YtM	0.1			
Coupon	0.08			
				
Time	CF	CF*(1+ytm)^(-n)	t*CF(1+ytm)^(-n)	t*(t+1)*CF(1+ytm)^(-n)
1	8	7.272727273	7.272727273	14.54545455
2	8	6.611570248	13.2231405	39.66942149
3	8	6.010518407	18.03155522	72.12622089
4	8	5.464107643	21.85643057	109.2821529
5	108	67.05950289	335.2975145	2011.785087
	PRICE	92.41842646	395.681368	2247.408336
				
	DURATION	4.281412086	years.	
	M.DURATION	3.892192805	%.	
	DOLLAR DURATION	3.597103346	($).	
	CX	20.09731536		
				
				
	"How much change the price of the bond if the interest rate will a) raise by 1 %, b) fall by 1 %?"			
		a	b	
	Using Duration:	88.82132312	96.01552981	
	Using Convexity:	88.91419123	96.02015073	
	By hand:	88.91230895	96.11034874	
				
	∆Price	-3.504235233	3.601724267