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What is the duration of a bond with a coupon of 5%, paid semi-annually and a face value of $100. The current market interest rate
What is the duration of a bond with a coupon of 5%, paid semi-annually and a face value of $100. The current market interest rate (which will equal the bond's yield to maturity) is 4%. The bond has a five-year maturity. What is the bond's duration in years? Round your answer to one decimal place
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