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explaination required with answers for all three parts. A six-year, $10,000CD pays 6 percent interest annually and has a 6 percent yield to maturity. 1.

explaination required with answers for all three parts. image text in transcribed
A six-year, $10,000CD pays 6 percent interest annually and has a 6 percent yield to maturity. 1. What is the duration of the CD? 2. What would be the duration if interest were paid semiannually? 3. What is the relationship of duration to the relative frequency of interest payments

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