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Convexity arises because: a. bonds pay interest semiannually b. coupon changes are the opposite sign of interest rate changes c. duration is an increasing function
Convexity arises because:
a. bonds pay interest semiannually
b. coupon changes are the opposite sign of interest rate changes
c. duration is an increasing function of maturity
d. present values are nonlinear function of interest rates
e. duration increases at higher interest rates
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