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A bond has a face value of $1000, fixed coupon rate of 6.1% and 3 years to maturity. The discount rate is 1.1%. If Macaulay
A bond has a face value of $1000, fixed coupon rate of 6.1% and 3 years to maturity. The discount rate is 1.1%. If Macaulay duration equals to 2.84, what is modified duration in this case? State the answer as a number with 2 decimals (for example, 3.12).
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