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Five years ago, George bought a 12-year, 7% semi-annual coupon bond. Face Value= 1000. If the yield to maturity (compounded semi-annually) is 5.5%, what is

Five years ago, George bought a 12-year, 7% semi-annual coupon bond. Face Value= 1000. If the yield to maturity (compounded semi-annually) is 5.5%, what is the bond's duration today? What does this duration tell us? Solve without Excel

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