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15. Calculate the duration of a coupon bond with the following characteristics. (Worth 3 points) ; - Matures in exactly 4 years from today. -

15. Calculate the duration of a coupon bond with the following characteristics. (Worth 3 points) ; - Matures in exactly 4 years from today. - Has a Par Value of $1,000 - Coupon Rate 3.00% - Interest is paid semi- annually. - Current YTM - 3.50\%

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