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  3. (b)a bond has a coupon rate of 9%, term to maturit

(b)A bond has a coupon rate of 9%, term to maturity of 5 years and...

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(b)A bond has a coupon rate of 9%, term to maturity of 5 years and par value of RM1,000. The coupon is paid once a year and the market interest rate is 5%. i. Compute the Macaulay duration for this bond. ii. Compute the modified duration for this bond

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