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What is the Macaulay and Modified duration for a bond with 5 years to maturity, a 6% coupon rate paid annually, a 5% YTM, and

What is the Macaulay and Modified duration for a bond with 5 years to maturity, a 6% coupon rate paid annually, a 5% YTM, and face value of 1,000? If interest rates go up by 40 basis points, what is the predicted price using the duration approximation? What would the actual price be after the 40 bp increase in rates?


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