Question: A one - year, $ 1 0 0 , 0 0 0 loan carries a coupon rate of 1 0 % . The loan requires

A one-year, $100,000 loan carries a coupon rate of 10%. The loan requires payment of accrued interest and one-half of the principal at the end of six months. The remaining principal and accrued interest are due at the end of the year. If the required yield is 20%, what is the duration of the loan?

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