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You are a bond funds manager evaluating a 10-year $1000 face value 6.5% coupon bond (with semi-annual interest payment) for your portfolio. This bond is

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You are a bond funds manager evaluating a 10-year $1000 face value 6.5% coupon bond (with semi-annual interest payment) for your portfolio. This bond is currently priced to yield 11% pa. a. Calculate the duration of the bond. b. Calculate the modified duration of the bond

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