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There is a one-year coupon bond ($1,000 face value) which pays interest semi-annually. The coupon rate is 15% and YTM is 10%. 1) What is

There is a one-year coupon bond ($1,000 face value) which pays interest semi-annually. The coupon rate is 15% and YTM is 10%.

1) What is modified duration of this bond?

2.)Lets assume the new YTM is 5%. What is the price change due to duration?

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