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Required: Find the duration of a bond with settlement date June 1 0 , 2 0 1 8 , and maturity date December 1 3

Required:

Find the duration of a bond with settlement date June

10, 2018,

and maturity date December

13, 2027 .

The coupon rate of the bond is

7 %,

and the bond pays coupons semiannually. The bond is selling at a yield to maturity of

8 % . (

Do not round intermediate calculations. Round your answers to

4

decimal places.

)

What is the macaulay duration?

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