A six-year, $10,000 CD pays 6 percent interest annually and has a 6 percent yield to maturity.
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Duration decreases as the frequency of payments increases This relationship occurs be...View the full answer
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Related Book For 
Financial Institutions Management A Risk Management Approach
ISBN: 978-0071051590
8th edition
Authors: Marcia Cornett, Patricia McGraw, Anthony Saunders
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