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  3. a bond currently has a price of $940. the current

A bond currently has a price of $940. The current yield to maturity on the...

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A bond currently has a price of $940. The current yield to maturity on the bond is 7%. If the yield decreases by 20 basis points, the price of the bond will go up to $960. Based on this information, the modified duration of this bond is: 8.5 years 10.6 years 6.3 years 13.2 years

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