Can someone explain why in reading 22 Money duration is calculated as: Modified duration x Market Value
Then in reading 23 it is calculated as:
(Modified duration x Market value) ÷ 100
Can someone explain why in reading 22 Money duration is calculated as: Modified duration x Market Value
Then in reading 23 it is calculated as:
(Modified duration x Market value) ÷ 100
Different authors.
There are many places where the curriculum is self-contradictory.