A bond that matures in 4 years has a face value of $1,000, an annual coupon of
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A bond that matures in 4 years has a face value of $1,000, an annual coupon of $50, paid annually, and currently sells for $1,017.40. What is this bond's duration?
Related Book For
Introduction to Corporate Finance What Companies Do
ISBN: 978-1111222284
3rd edition
Authors: John Graham, Scott Smart
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