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Can you please provide the explanation, formula and correct answer for the problem above? For the following bond, Par value: 1,000 Coupon rate: 8% paid

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Can you please provide the explanation, formula and correct answer for the problem above?

For the following bond, Par value: 1,000 Coupon rate: 8% paid annually Time to maturity: 3 years Interest rate: 6% What is the modified duration

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