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Calculate the duration for the 25-year, 9% coupon bond with semiannual coupon payments. The bond is purchased when the YTM is 7%. 1. Calculate the

Calculate the duration for the 25-year, 9% coupon bond with semiannual coupon payments. The bond is purchased when the YTM is 7%. 1. Calculate the duration by using the textbook equation and Excel spreadsheet. 2. Calculate the duration by using Excel Duration function

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