Question: Hi please help me calculate below. A bond has a face value of $1,000, an annual coupon rate of 3.70%, an yield to maturity of

Hi please help me calculate below.

A bond has a face value of $1,000, an annual coupon rate of 3.70%, an yield to maturity of 7.4%, makes 2 (semi-annual) coupon payments per year, and 6 periods to maturity (or 3 years to maturity). Determine the duration of this bond.Notice that there is a function "Duration" in Excel, but you probably would like tocheck your answer with an analytical solution based on the specific duration formula.

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