Zach bought a bond that pays interest annually, has a $1,000 par value and a 6 percent

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Zach bought a bond that pays interest annually, has a $1,000 par value and a 6 percent coupon rate. The bond has four years remaining to maturity and a 7 percent yield to maturity. This bond's modified duration is ____

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Bank Management

ISBN: 978-1133494683

8th edition

Authors: Timothy W. Koch, S. Scott MacDonald

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Posted Date: Jul 31, 2022 03:15 AM

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Zach bought a bond that pays interest annually, has a $1,000 par value and a 6 percent

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Face value ie FV 1000 coupon rate 6 hence coupon amount PMT face valu... View the full answer

Bank Management

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