Modify Interest Rate Formula
Description
How to fill out Agreement To Change Or Modify Interest Rate, Maturity Date, And Payment Schedule Of Promissory Note Secured By A Deed Of Trust?
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FAQ
The modified duration, which is a measure of a bond's interest rate sensitivity and risk, is calculated by dividing the dollar value of a one basis point change in an interest rate swap leg or series of cash flows by the present value of the cash flows. The resulting value is then multiplied by 10,000.
To find the modified duration, all an investor needs to do is take the Macaulay duration and divide it by 1 + (yield-to-maturity / number of coupon periods per year). In this example that calculation would be 2.753 / (1.05 / 1), or 2.62%.
The duration formula is a measure of a bond's sensitivity to changes in the interest rate, and it is calculated by dividing the sum product of discounted future cash inflow of the bond and a corresponding number of years by a sum of the discounted future cash inflow.
The modified Duration of a bond is a measure of how much the price of a Bond changes because of a change in its Yield To Maturity (YTM) or interest rate. In the simplest terms, if the Modified Duration of a Bond is 5 years and the market Interest Rate decreases by 1%, then the Bond's price will increase by 5%.
The modified duration is calculated by dividing the dollar value of a one basis point change of an interest rate swap leg, or series of cash flows, by the present value of the series of cash flows. The value is then multiplied by 10,000.