A 5-year bond with a yield of 11% (continuously compounded) pays an 8% coupon at the end of

each year.

What is the bond’s price?

What is bond’s duration?

Instead of setting the CF table as shows in the Answer, I am trying to use my calculator to calculate the price given 2% change in yield, and apply the following formula D =(-delta_B/b)/delta_y. However, I did not get the 4.256 as duration or even the bond price.

I am using HP12C and the setup is below

n = 5, i = 11%, PMT = 8, FV = 100, PV = 92.165

n = 5, i = 10.8%, PMT = 8, FV = 100, PV = 92.81

D = (-(92.165-92.81)/92.165)/0.2% = 3.49 years

Can someone please help me to point out where I am getting this wrong?