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Actuarial FM question: A three-year, $500 par-value bond with 8% quarter coupons and redemption amount $700 has annual effective yield 10%. Calculate the Macaulay duration

Actuarial FM question:

A three-year, $500 par-value bond with 8% quarter coupons and redemption amount $700 has annual effective yield 10%. Calculate the Macaulay duration and the modified duration of the bond.

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