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Problem # 6 : A 3 year bond has annual coupons of 9 % , and a face / redemption value of $ 1 0

Problem # 6: A 3 year bond has annual coupons of 9%, and a face/redemption value of $100. If the bond YTM is 7.75%, find
the Macauley duration for the bond.
Problem =6 :
Answer correct to 3 decimals.
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