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Pop-up Quiz r Name and FIU ID: Show your work to get full credits. A bank grants a loan to one of its customers for

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Pop-up Quiz r Name and FIU ID: Show your work to get full credits. A bank grants a loan to one of its customers for a term of five years. The customer promises the bank an annual interest payment of 10 percent. The face value of the loan is $1000, which is also its current market value (price) because the loan's current yield to maturity is 10 percent. What is this loan's duration? [8 points]

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