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Problems 2 (1 point) A municipal bond has a $1,000 face (par) value. Its yield to maturity is 4.8 percent, and the bond promises its

Problems 2 (1 point)

A municipal bond has a $1,000 face (par) value. Its yield to maturity is 4.8 percent, and the bond promises its holders $66 per year in interest (paid annually) for the next 5 years before it matures. What is the bonds duration?

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