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PLEASE SOLVE AND SHOW STEPS, THANKS! Calculate the duration of a $1,000 6% coupon bond with 3 years to maturity. Assume that all market interest

PLEASE SOLVE AND SHOW STEPS, THANKS!

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Calculate the duration of a $1,000 6% coupon bond with 3 years to maturity. Assume that all market interest rates are 7%. Complete the following table to help you: Based on your duration calculated from 3a, what is the expected price changes for this bond if interest rate drops from 7% to 3.75%

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