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3. A bond with 4 years remaining to maturity has an annual coupon rate of 5.75%, and a face value of $1,000. Assume the yield-to-maturity

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3. A bond with 4 years remaining to maturity has an annual coupon rate of 5.75%, and a face value of $1,000. Assume the yield-to-maturity is 6.10% and answer the questions below. (You may use a financial calculator to get the PV of the bond in this problem - bt show your calculator entries, i.e., 1000 FV, etc). 1000 % -0825- 57.5 a) (2 points) What is the bond's present value? V = 1000 Mt 57.5 Pv-987.90 56.10 N=4 b) (9 points) What is the duration of this bond

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