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A bond currently sells for RM920 based on a par value of RM1,000 and promises RM90 in coupon payment for three years before being retired.
A bond currently sells for RM920 based on a par value of RM1,000 and promises RM90 in coupon payment for three years before being retired. Yields to maturity on comparable-quality securities are currently at 12 percent. Calculate the bond's duration show the formula used
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Personal Finance
Authors: Jeff Madura, Hardeep Singh Gill
3rd Canadian Edition
978-0133035575, 133035573, 978-0133970524, 133970523, 978-0134040042
