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please write clearly and define your equations. answer is 2.14885. thank you! (1) A four-year callable bond's current market value is $95.40. If the interest

please write clearly and define your equations. answer is 2.14885. thank you!
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(1) A four-year callable bond's current market value is $95.40. If the interest rate increases by 100 basis points, the market value is anticipated to be $92.50 and if the interest rate decreases by 100 basis points, the price is expected to be $96.60. Compute the effective duration

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