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Calaulate the Macaulay duration of a 9%,$1,000 par bond that matures in three years of the bond's VTM is 10% and interest is paid semiannually.

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Calaulate the Macaulay duration of a 9%,$1,000 par bond that matures in three years of the bond's VTM is 10% and interest is paid semiannually. a. Caloulate this bond's mod hied duration. Do not round intermiedlate catculations, round your answer to two decimal places. rears b. Assuming the bond's VTM goes from 10% to 9.5%, calculate an estimate of the price change. Do not round intermediate calculations, flound your answer to three decimal places. Use a minus sign to enter negative value, if ary

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