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Calculate the duration of a $1,000 face value bond with annual coupon payments, a coupon rate of 7 percent, a maturity of 4 years, and
Calculate the duration of a $1,000 face value bond with annual coupon payments, a coupon rate of 7 percent, a maturity of 4 years, and a yield to maturity of 8.2%.
A. 3.49 years
B. 3.62 years
C. 3.69 years
D. 3.81 years
E. 3.74 years
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Financial Management for Public, Health and Not-for-Profit Organizations
Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell
5th edition
