Question 2 A bond matures in 30 years, has a 20 year duration and a yield to maturity of 9.32%. The market interest rate has increased by 0.47%. The modified duration is:

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Question 3 Last year, Sue purchased a closed-end mutual fund that was trading at $42 and had an NAV of $38. Sue sold the fund today when the NAV is $44 and the market price is $43. The fund paid $1 in dividends over the past year. What is the Sue's holding period return? ( SHOW WORK )