Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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A corporate bond with annual coupons has a face value of $1,000, 4 years to maturity and a coupon rate of 8%. The market interest rate for similar bonds is 0.095.
What is the bond's duration?
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