Bond-what is the modified duration

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For the following bond, Par value: 1,000 Coupon rate: 8% paid annually Time to maturity: 3 years Interest rate: 4% What is the modified duration? Select one: a. 2.210 years b. 2.445 years c. 2.861 years d. 2.688 years

Reference no: EM131297362

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