On jan 1, 2012, fin307 is considering the newly issued 10-year aaa corporate bond, which is due jan 1, 2022, with a coupon rate of 6% per year paid every 6 months. the bond is traded at par. suppose the market interest rate declines by 100 bps (i. e., 1%), what is the duration (before interest rate change) and the effect of the market interest decline on the bond price? hint: if your calculator does not have a build-in function for duration, go to excel and do the calculation manually by setting up 6 columns for t (=1, 2, 3…..20), df(discount factor or 1/pv factor), cf (cashflow), pv (present value of cf=cf*df), w(weight=pv/sum of pv or p0), and t*w. then sum up all t*w, then divide by 2 (because here coupon is paid semiannually).

Read the overview below and complete the activities that follow.apartment complexes often look for ways to recruit new tenants and retain current tenants. although apartment complexes offer the tangible benefit of shelter to their tenants, many apartment complexes also offer additional services to tenants to encourage tenants to stay or to support the rent prices. the following scenario identifies the several service gaps of a company that runs an apartment complex as well as solutions for reducing these service gaps.concept review: customers have certain expectations about how a service should be delivered. a service gap occurs when the delivery of a service fails to meet customer expectations. there are four types of service gaps: knowledge gap, standards gap, delivery gap, and the communications gap. it is important for marketers to identify these gaps and develop strategies for minimizing them.match the example or solution to the appropriate service gap category.1. wait for repairs 5. train employees well2. understand expectations 6. incentives for tenants3. do not overpromise 7. family movie night4. empower employees 8. delayed lawn careservice gap example solutionknowledge gap standards gap delivery gap communication gap