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Course name: FIN440 Course Code: Financial institution and markets Q2. A bond with a face value of $1,000 issued by Ctray Corporation has a coupon

Course name: FIN440

Course Code: Financial institution and markets

Q2. A bond with a face value of $1,000 issued by Ctray Corporation has a coupon interest rate of 9% and maturity of 5 years. Calculate the duration of this bond. (40 MARKS)

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