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  3. a bond pays annual interest. its coupon rate is 10

A bond pays annual interest. Its coupon rate is 10.1%. Its value at maturity is...

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Finance

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A bond pays annual interest. Its coupon rate is 10.1%. Its value at maturity is $1,000. It matures in 4 years. Its yield to maturity is currently 5.7%. What is the duration of this bond? Enter your answer to the nearest hundredth of a year, for example if your answer is 5.6427, enter 5.64

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