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An investor buys a 3.4% annual payment bond with 8 years tomaturity. The bond is priced at a yield-to-maturity of 4.6%.What is the bond??s Macaulay

An investor buys a 3.4% annual payment bond with 8 years tomaturity. The bond is priced at a yield-to-maturity of 4.6%.What is the bondâ??s Macaulay duration? 2 answers

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