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1. A bond with 7.5% annual coupons will mature at par on June 30, 2006. Determine the duration of the bond on December 31, 2004

1. A bond with 7.5% annual coupons will mature at par on June 30, 2006. Determine the duration of the bond on December 31, 2004 if the effective rate of interest is 5.5% per annum. Select one: a. 1.00 b. 1.50 c. 1.43 d. 1.32 e. 1.18

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