[Solved] For example 3 : A bond has a maturity of

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For example 3 : A bond has a maturity of 1 2 years, a duration of 9 . 5 years at a promised yield rate

For example

3

: A bond has a maturity of

12

years, a duration of

9.5

years at a promised yield rate of

8 % .

What is the bond's modified duration

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