Question: Consider a bond that matures in 8 years with a yield-to-maturity of 5.0% and a face value of $10,000. It pays an annual coupon of

Consider a bond that matures in 8 years with a yield-to-maturity of 5.0% and a face value of $10,000. It pays an annual coupon of 3.5% and sells for $9,030.

What is the contribution to this bonds duration, in years, of the 5th coupon payment?

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