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Please DON'T use excel. I need calculations MANUALLY Question 4. .a. Calculate the duration of a five-year bond with a face value of $1,000 and

image text in transcribedPlease DON'T use excel. I need calculations MANUALLY

Question 4. .a. Calculate the duration of a five-year bond with a face value of $1,000 and a coupon rate of 9%. Assume that the current interest rates are 12%. b. What will your answer be if the current interest rates fall to 8%? Show all your calculations. c. Calculate the price difference using the duration formula

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