Question: 11) Consider a 3-year 10% coupon bond with a yield of 7% and a face value of 100. Required: 1. Calculate the bond's current price.

11) Consider a 3-year 10% coupon bond with a yield of 7% and a face value of 100. Required: 1. Calculate the bond's current price. II. Calculate the bond's duration 111. Explain why the duration of a bond with coupons is always less than its term to maturity

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