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Compute Macaulay and modified durations for the following bonds: a. A 5-year bond paying annual coupons of 4.432% and selling at par. b. An 8-year

Compute Macaulay and modified durations for the following bonds:

a. A 5-year bond paying annual coupons of 4.432% and selling at par.

b. An 8-year bond paying semiannual coupons with a coupon rate of 8% and a

yield of 7%.

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