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Problem. 02: A six-year, $10 000 CD pays 6 per cent interest annually and has a 6 per cent yield to maturity. What is the

Problem. 02: A six-year, $10 000 CD pays 6 per cent interest annually and has a 6 per cent yield to maturity. What is the duration of the CD? What would be the duration if interest were paid semi-annually? Solution

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