Find the duration of a coupon bond

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Question -

a. Find the duration of a 7% coupon bond making annual coupon payments if it has three years until maturity and has a yield to maturity of 7%. Note: The face value of the bond is $1,000.

b. What is the duration if the yield to maturity is 8.4%? Note: The face value of the bond is $1,000.

Reference no: EM132945484

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