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(b) ANSWER The duration of a $1000, 2-year, 7% coupon bond (interest paid annually) is _____ when market rates are 8%? a. 2.036 b. 1.934

(b) ANSWER The duration of a $1000, 2-year, 7% coupon bond (interest paid annually) is _____ when market rates are 8%? a. 2.036 b. 1.934 c. 1.902 d. 1.856 I PROVIDED THE ANSWER BUT SHOW ME HOW THEY CALCULATED THIS

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