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Determine the bond modified duration

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Reference no: EM132975430

Question - A bond with annual coupon payments has a coupon rate of 8%, and YTM of 10%. If its Macaulay's duration is 9 years, determine the bond modified duration?

a) 9 years

b) 8.18 years

c) 10 years

d) 8.33 years

Reference no: EM132975430

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