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Given the following bonds: a) 5-year, 8% coupon bond b) 15-year, 8% coupon bond c) 15-year, 12% coupon bond Which of the following bonds would
Given the following bonds:
a) 5-year, 8% coupon bond
b) 15-year, 8% coupon bond
c) 15-year, 12% coupon bond
Which of the following bonds would have the longest duration and why (you do not need calculate to answer)?
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