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A $1,000 three-year par-valued bond yields an effective annual interest rate of 6%. Coupons are paid on an annual basis at a rate of 5%

A $1,000 three-year par-valued bond yields an effective annual interest rate of 6%. Coupons are paid on an annual basis at a rate of 5% per year: Determine the modified convexity of the bond. 9.44 B 9.72 10.00 D 10.56 E 11.24

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