A money markets desk holds a floating-rate note with an

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A money markets desk holds a floating-rate note with an eight-year maturity. The interest rate is floating at three-month LIBOR rate, reset quarterly. The next reset is in one week. What is the approximate duration of the floating rate note?

A. 8 years

B. 4 years

C. 3 months

D. 1 week

Reference no: EM13568820

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