Question: Consider two bonds: 1) A ten-year bond with face value of $1,000 and a 6% coupon rate, paid annually. 2) A ten-year bond with face

Consider two bonds: 1) A ten-year bond with face value of $1,000 and a 6% coupon rate, paid annually. 2) A ten-year bond with face value of $1,000 and a 6% coupon rate, paid quarterly. Which bond has the higher duration, and why?

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