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A $100 face-value bond has 10 years to mature. It pays semi-annual coupon interest at the rate of 5% p.a. and its yield to maturity
A $100 face-value bond has 10 years to mature. It pays semi-annual coupon interest at the rate of 5% p.a. and its yield to maturity is 7% p.a. What is the duration of this bond in years?
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