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Five years ago, Weisu bought an 8-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, Weisu bought an 8-year, 7% semi-annual coupon bond. Face Value= 1000. If the yield to maturity (compounded semi-annually) is 5.5%, what is the bonds duration today? What does this duration tell us?

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