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A 2 5 year bond pays 9 % coupon and has a face value of $ 1 0 0 . Suppose the initial yield is
A year bond pays coupon and has a face value of $ Suppose the initial yield is A Calculate the price of the bond. B Approximate the price change due to duration of a change in yield to C If the bond as originally described had a shorter time to maturity than years, how would you answer question b change and what is reason?
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