1.A six-year, $10 000 CD pays 6 per cent interest annually and has a 6 per cent...

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1.A six-year, $10 000 CD pays 6 per cent interest annually and has a 6 per cent yield to maturity. What is the duration of the CD? What would be the duration if interest were paid semi-annually? What is the relationship of duration to the relative frequency of interest payments? LO 6.1, 6.2

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