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An investor buys a three-year bond with a 6% coupon rate paid annually. The bond is issued at a yield-to-maturity of 3% with face value
An investor buys a three-year bond with a 6% coupon rate paid annually. The bond is issued at a yield-to-maturity of 3% with face value of $100. The bonds approximate modified duration is:
2.758
2.751
2.708
2.737
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