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9) a) (5 points) Find the duration of a 5% coupon bond making annual coupon payments if it has three years until maturity and a

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9) a) (5 points) Find the duration of a 5% coupon bond making annual coupon payments if it has three years until maturity and a yield to maturity of 7%. b) (5 points) What is the duration if the yield to maturity increases to 8%? c) (5 points) What is the percentage change in the bond's price as predicted by the duration formula

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