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Consider a 7.4% coupon bond with face value of $1,000, making annual coupon payments, that has three years until maturity. a) Find the duration of

Consider a 7.4% coupon bond with face value of $1,000, making annual coupon payments, that has three years until maturity.

a) Find the duration of the bond if the yield to maturity is 7.4%.

b) Repeat your calculation, but instead consider a bond paying semiannually instead of annually.

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