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Calculate the duration of a bond with ANNUAL interest payments and a face value of $ 1 0 0 0 , coupon rate of 7

Calculate the duration of a bond with ANNUAL interest payments and a face value of $

1000,

coupon rate of

7 %,

a maturity of

3

years, a price of $

949.38,

and current yield to maturities of

9 % .

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