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An annual coupon-paying bond has the following terms: 1)$100 face value; 2) 4-year maturity; and 3)8% annual coupon rate. The bond's current yield-to-maturity is 12%
An annual coupon-paying bond has the following terms:
1)$100 face value; 2) 4-year maturity; and
3)8% annual coupon rate. The bond's current yield-to-maturity is 12% per annum.what is the bond's duration? Enter your answer to 2 decimal places eg if your answer is 0.457enter as 0.46
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