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A bond pays annual interest, its coupon rate is 7% its value at maturity is 1,000. It matures in 3 years. It's yield to maturity

A bond pays annual interest, its coupon rate is 7% its value at maturity is 1,000. It matures in 3 years. It's yield to maturity is presently 8%. What is the duration of this bond? a.2.80 years b.5.20 years c.10.12 years d.3.40 years

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