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A 30-year bond has a coupon rate of 8% and a YTM of 10%. The Macaulay duration of this bond is 10.20 years. What is
A 30-year bond has a coupon rate of 8% and a YTM of 10%. The Macaulay duration of this bond is 10.20 years. What is the bond's modified duration in years, rounded to two decimal places?
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Financial Management Core Concepts
Authors: Ray Brooks, Raymond Brooks
1st Edition
0321155173, 9780321155177
