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A ( $ 1000 ) bond with 7 annual coupons matures in 3 years at ( $ 1120 ). It is purchased at a price
A \\( \\$ 1000 \\) bond with \7 annual coupons matures in 3 years at \\( \\$ 1120 \\). It is purchased at a price to yield \9 effective. Determine the Macaulay Duration. a) 2.59 b) 2.82 c) 2.93 d) 3.07 e) 2.89
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