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A 3-year bond with YTM of 8% and par value of $1000 pays 8% annual coupon. What is the bonds duration? 2.61 3.11 2.78 2.83

A 3-year bond with YTM of 8% and par value of $1000 pays 8% annual coupon.

What is the bonds duration?

2.61

3.11

2.78

2.83

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