I will boost if answered in 2 hours 3. You deposited money...
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I will boost if answered in 2 hours
3. You deposited money with a bank for a fixed period of 5 years earning a 10% compounding annual rate of return. All principal and interest are paid at maturity. One year has passed and the rate on similar 4-year deposits with the same bank are now 7%. If M is the market value of your deposit and D the modified duration, what is Mx D? A) 2851.94 C) 4593.08 E) 5365.78 B) 4175.55 D) 4914.63
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