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1 ) a 1 0 0 0 par value 8 year bond, with annual coupons of 6 . 5 % 2 ) a zero coupon

1)a 1000 par value 8 year bond, with annual coupons of 6.5%2) a zero coupon bond, maturing in X years with a purchase price of 900. The macauley duration calculated with a 6.5% annual interest rate of this portfolio is 5 years. Find X

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