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Consider a one-year loan with a face value of $100,000 and a coupon rate of 11%. The loan requires payment of accrued interest and

 

Consider a one-year loan with a face value of $100,000 and a coupon rate of 11%. The loan requires payment of accrued interest and one-half (50%) of the principal at the end of six months. The remaining principal and accrued interest are due at the end of the year. If the required yield is 19%, what is the duration of the loan? (Please round your answer to three decimal places.)

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