What is the modified duration

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What is the Macaulay duration of a 8.6 percent coupon bond with twelve years to maturity and a current price of $953.90? What is the modified duration?

Reference no: EM13271469

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What is the modified duration : What is the Macaulay duration of a 8.6 percent coupon bond with twelve years to maturity and a current price of $953.90? What is the modified duration?
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