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By showing your calculations of Macaulay duration, justify which bond will be less sensitive to interest rate changes: Par value Term to maturity Bond

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By showing your calculations of Macaulay duration, justify which bond will be less sensitive to interest rate changes: Par value Term to maturity Bond A ,1,000 10 years Bond B 1,000 10 years 5% Twice 3% Annual coupon rate Frequency of coupon payment per year Annual yield of bonds in similar risk class 5% Once 3%

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