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An asset provides $10 at the end of each month for 14 years. In addition to the monthly payments, the asset also provides a lump
An asset provides $10 at the end of each month for 14 years. In addition to the monthly payments, the asset also provides a lump sum of $2,000 at the end of 14 years. The yield of the asset is 6 % compounded monthly. Determine the modified duration of the asset.
(Pls use formula, dont use excel)
Answer : 9.4564
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