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A bond, which was priced yesterday at $1,030, fell to $1,025.88 this morning, because of a rise in interest rates from 8% to 8.1%. Show

A bond, which was priced yesterday at $1,030, fell to $1,025.88 this morning, because of a rise in interest rates from 8% to 8.1%. Show that the bonds modified duration is 4 years

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