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Question
A $1,000 face value bond has a 9.0 percent coupon and pays interest semiannually. The bond matures in 2 years and has a yield to maturity of 6.5 percent. What is the Macaulay duration?A. 1.18 years
B. 1.65 years
C. 1.88 years
D. 2.03 years
E. 2.19 years
Answer
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