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A coupon Bond has the following characteristics: Face value of 1000 Yield (interest rate) of 7% Coupon Rate of 5% Time to maturity: 20 years

A coupon Bond has the following characteristics: Face value of 1000 Yield (interest rate) of 7% Coupon Rate of 5% Time to maturity: 20 years Annual coupon payments and compounding. What is the duration of this bond (in years)? EXPLAIN IT CLEARLY AND avoid handwriting Thank you

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