Question
A 3-year bond has a face value of $1,000 and is currently selling for $1,000 in the market. This bond pays an annual coupon rate
A 3-year bond has a face value of $1,000 and is currently selling for $1,000 in the market. This bond pays an annual coupon rate of 5.24% and it's yield to maturity is equal to its annual coupon rate. What is this bond's duration? Please round your answer to the second decimal. E.g. 1.23
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Financial Accounting and Reporting a Global Perspective
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
4th edition
978-1408076866
