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For the following bond, Par value: 1,000 Coupon rate: 8% paid annually Time to maturity: 3 years Interest rate: 4% What is the modified duration?
For the following bond,
Par value: 1,000
Coupon rate: 8% paid annually
Time to maturity: 3 years
Interest rate: 4%
What is the modified duration?
Select one:
a. 2.6875 years
b. 3.361 years
c. 3.600 years
d. 2.145 years
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