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Question 4 3 pts Macaulay duration works well as a meaure of interest rate risk if: O A. The bond is fixed-rate, with embedded option.

Question 4 3 pts Macaulay duration works well as a meaure of interest rate risk if: O A. The bond is fixed-rate, with embedded option. B. The bond is fixed-rate, option-free. C. The change in rate happens gradually. D. Both A and B are correct

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