Relationship between Mac and Mod Duration

[td]

I would like to understand the conceptual relationship between Mac and Mod Duration.

Mac Duration is a weighted avg time to repayment. How does multiplying Mac D times (1/(1+y)) result in the percent change in bond price for a 100 bps change in yield (Mod D)?

What are the units for the (1/(1+y))? What does this term represent conceptually?

 

[ShaktiRathore]

Pls visit: https://forum.bionicturtle.com/thre...rations-lets-settle-this-now.6012/#post-18668
Thanks