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XYZ bank purchased a Bank of Ghana bond that pays an annual coupon of 19% in January 2010. The face value of the bond is

XYZ bank purchased a Bank of Ghana bond that pays an annual coupon of 19% in January 2010. The face value of the bond is GHS 5m. What

is the duration of this bond if the yield to maturity on the bond is 15%? (5

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