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Macaulay and modified durations A. A 5-year bond paying annual coupons of 4.432% and selling at par. B. An 8-year bond paying semiannual coupons with

Macaulay and modified durations

A. A 5-year bond paying annual coupons of 4.432% and selling at par.

B. An 8-year bond paying semiannual coupons with a coupon rate of 8% and a

yield of 7%.

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