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A bond has a current price of $1,030. The yield on the bond is 8%. If the yield changes from 8% to 8.10%, the price
A bond has a current price of $1,030. The yield on the bond is 8%. If the yield changes from 8% to 8.10%, the price of the bond will go down to $1,025.88. The modified duration of this bond is _____. (4 years) and the duration of this bond____is(4.32 years) could you explain two of them with steps
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