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7. Calculate the Macaulay duration in years) of a 20-year 200 par value bond which pays 5.5% coupons semiannually which is redeemed at par. Assume

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7. Calculate the Macaulay duration in years) of a 20-year 200 par value bond which pays 5.5% coupons semiannually which is redeemed at par. Assume a yield rate of 3% convertible semi- annually

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