What are Exact and Approximate Values? - Difference (with examples)
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Modified duration provides an estimate of the percentage price change for a bond given a change in its yield-to-maturity. Modified duration provides a linear estimate of the percentage price change. In terms of absolute value, the change is the same for either an increase or decrease in the yield-to-maturity. The modified duration statistic for a fixed-rate bond is easily obtained if the Macaulay duration is already known. An alternative approach is to approximate modified duration directly. | P
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ersonal experience 😅..... #housing #loan #tamilreels Approximate value only add in the emi calculation but the core is💯 | Justahumanbeing
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