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6. A bond has just been issued. The bond will mature in 7 years. The bonds annual coupon rate is 8% and the face value

6. A bond has just been issued. The bond will mature in 7 years. The bonds annual coupon rate is 8% and the face value of the bond is $1,000. The bonds (annual) yield to maturity is 5%.

a.Compute the bonds duration if coupons are paid semi-annually:i. Using the VBA dduration function.

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