Question: 23. The duration for a 5-year, zero coupon, $1,000 face value bond is ______ years if its yield to maturity is 3.2%. a) 4.5 years

23. The duration for a 5-year, zero coupon, $1,000 face value bond is ______ years if its yield to maturity is 3.2%.

a) 4.5 years

b) 3.8 years

c) 6.2 years

d) 5.0 years

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