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What is Modified duration of a bond that has a par value of $1,000, a coupon rate of 4.15 percent (paid annually), and that matures
What is Modified duration of a bond that has a par value of $1,000, a coupon rate of 4.15 percent (paid annually), and that matures in 10 years? Assume a required rate of return on this bond is 14.47 percent. Round the answer to four decimal places. You should use Excel or online Duration calculator.
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