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Question
The Johnson National Bank has purchased a bond that has a coupon rate of 5.5% and a face value of $1000. It has 4 years to maturity and is currently selling in the market for $917. The bond makes annual coupon payments. What is the duration of this bond?
A. 3.38 years
B. 3.6 years
C. 4.00 years
D. 5.50 years
E. None of the options is correct
Answer
This answer is hidden. It contains 1 characters.
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