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an investor buys a bond at par for 100$ with a yield of 8% the price of the bond increases to 103$ when the yield

an investor buys a bond at par for 100$ with a yield of 8% the price of the bond increases to 103$ when the yield falls by 0.25 % alternatively the price of the bond falls to 98$ when the yield increases by 0.25% calculate the effective duration of the bond

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