A bond has 4 years to maturity, a coupon of 9 percent paid annually and currently sells

Question:

A bond has 4 years to maturity, a of 9 percent paid annually and currently sells at par. What is the duration of the bond?
A) 3.74 years
B) 3.53 years
C) 4.90 years
Coupon
A coupon or coupon payment is the annual interest rate paid on a bond, expressed as a percentage of the face value and paid from issue date until maturity. Coupons are usually referred to in terms of the coupon rate (the sum of coupons paid in a...