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9 . Calculate the duration for a $ 1 0 0 0 , 4 - year bond with a 6 % annual coupon, currently selling

9. Calculate the duration for a $1000,4-year bond with a 6% annual coupon, currently selling at par. Use the duration to estimate the percentage change in the bonds price for a decrease in the market interest rate to 4%. Use the bond price volatility equation to compute the bond price volatility. Compare the result with the estimated percentage change in the bond price. Please show the step by step of how you found the answer please!!

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