Question: Question 3 Mark A three-year $1,000 par-valued bond yields an effective annual interest rate of 6%. Coupons are paid on annual basis at a rate

Question 3 Mark A three-year $1,000 par-valued bond yields an effective annual interest rate of 6%. Coupons are paid on annual basis at a rate of 5% per year. Determine the modified duration of the bond, 2.65 B 2.70 c 2.77 D 2.86 E 2.88

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