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Calculate the duration of a 18-month, 6% p.a. semi annual coupon bond with a face value of $1,000 if interest rates are 4% p.a.. Show

Calculate the duration of a 18-month, 6% p.a. semi annual coupon bond with a face value of $1,000 if interest rates are 4% p.a..

Show detailed workings with explanation on how to get the answer using duration formula.

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