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  3. a bond will pay a coupon of $100 at the end of eac

A bond will pay a coupon of $100 at the end of each of the...

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Advance Math

A bond will pay a coupon of $100 at the end of each of the next3 years and will pay the $1,000 face value at the end of the 3-yearperiod.

What is the bond's (Macaulay) duration when valued using anannual effective interest rate of 20%?

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