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What is the Macaulay duration of a bond with a coupon of 8.4 percent, eleven years to maturity, and a current price of $1,041.40 ?
What is the Macaulay duration of a bond with a coupon of 8.4 percent, eleven years to maturity, and a current price of $1,041.40 ? What is the modified duration? Note: Do not round intermediate calculations. Round your answers to 3 decimal places. Answer is complete but not entirely correct Step by Step Solution
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