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A 2-year bond pays a coupon of $20 every 6 months and its par value is $1,000. The bond's yield is 6% with continuous compounding.

A 2-year bond pays a coupon of $20 every 6 months and its par value is $1,000. The bond's yield is 6% with continuous compounding.

1. What is the bond's market price?

2. What is the bond's maturity?

3. How would the bond's market price change if its yield increases by 1 basis points?

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