ModDur Calculation with BA II Plus Professional

Hi everyone,

I tried to solve the CFA Programm Curriculum example (page 522) with my BA II Plus Professional but I can’t seem to find the right solution. However, I was able to solve the problem with Microsoft Excel.

“A 6% semiannual payment corporate bond that matures on 14 February 2022 is purchased for settlement on 11 April 2014. The coupon payments are 3 per 100 of par value, paid on 14 February and 14 August of each year. The yield-to-maturity is 6.00% quoted on a street-convention semiannual bond basis.”

Here is what I put into the calculator:

SDT= 4 - 11 - 2014

CPN= 6

RDT= 2 - 14 - 2022

RV=100

360

2/Y

YLD=6

PRI= 0

Calculator Solution = 6,1835

Excel and CFA Programm Solution = 6,126829

Thank you for your help!