Question

A semiannual payment bond with a $1,000 par has a 7% quoted coupon rate, a 7% promised ytm, and 10 years to maturity. What is the bond's duration?
A. 10.00 years
B. 8.39 years
C. 6.45 years
D. 5.20 years
E. 7.35 years

Answer

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