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3. (5 points) What is the modified duration of a 5-year 2000 par value bond with 8% annual coupons and an annual effective yield of

3. (5 points) What is the modified duration of a 5-year 2000 par value bond with 8% annual coupons and an annual effective yield of 7%? A. 4.327 B. 4.044 C. 3.802 D. 3.550 E. 3.287

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