Find effective duration

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The price of a 5-year zero coupon bond with a current yield to maturity (YTM) of 8.4% is 66.27. If the YTM increases to 8.9%, the price will decrease to 65.47. If the YTM decreases to 7.9%, the price will increase to 67.06. The effective duration is closest to:

Reference no: EM132932847

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