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Use the appropriate function in Excel to calculate the modified duration of a $1,000 face value corporate bond that you just recently purchased. The settlement
Use the appropriate function in Excel to calculate the modified duration of a $1,000 face value corporate bond that you just recently purchased. The settlement date of this purchase was December 19th, 2019. The bond matures on Jun 30th, 2030. You purchased the bond at a 4% discount from face value. The coupon rate of this bond is 5.125% and interest is paid twice per year. Format your answer with 2 digits after the decimal point
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