Calculate the Macaulay duration of an 8%,$1,000 par bond that matures in three years if...
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Calculate the Macaulay duration of an 8%,$1,000 par bond that matures in three years if the bond's YTM is 12% and interest is paid semiannully. a. Calculate this bond's modified duration. Do not round intermediate calculations. Round your answer to two decimal places, years
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