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13. a. Calculate the duration of the following bond (coupon interest is paid annually). Coupon rate: 7% Par value: $1,000 Term to maturity: 3 years

13. a. Calculate the duration of the following bond (coupon interest is paid annually). Coupon rate: 7% Par value: $1,000 Term to maturity: 3 years YTM: 5%

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