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Find the duration of a bond with settlement date September 15,2016, and maturity date September 15,2025. The coupon rate of the bond is 7%, and
Find the duration of a bond with settlement date September 15,2016, and maturity date September 15,2025. The coupon rate of the bond is 7%, and the bond pays coupons semiannually. The bond is selling at a yield to maturity of 8%. What is the duration of the bond if coupons are paid annually? Explain why the duration changes in the direction it does!
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