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Pathep Words 20 QUESTION 18 A 8-year annual coupon bond is currently selling for its par value of $10,000 with an annual yield of 5%.

Pathep Words 20 QUESTION 18 A 8-year annual coupon bond is currently selling for its par value of $10,000 with an annual yield of 5%. If the bond is callable at par, what is the effective duration of the bond, assuming rates change by 12%? Please round your answer to 3 decimal places

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