According to the duration measure-the expected bond price

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You use bond duration to predict bond price changes. A bond you are analyzing makes semiannual coupon payments and currently yields 6.16%. According to the duration measure, the expected bond price change is an increase of 5.8368% for a decrease of 0.85% in the yield. What is the bond's Macaulay duration? Round to four decimals.

Reference no: EM131896637

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