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Duration is a very important concept that allows investors to better understand the risk of owning a particular bond. For example, we are interested in

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Duration is a very important concept that allows investors to better understand the risk of owning a particular bond. For example, we are interested in buying a three-year bond with a $1,000 face value, a 3% coupon and a 4% yield-to-maturity. What is the duration of this bond? Multiple Choice 2.83 2.81 2.91 2.82

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