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What is the formula for modified duration? Macaulay duration times 1 plus yield to maturity....

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Finance

What is the formula for modified duration?

Macaulay duration times 1 plus yield to maturity.

Macaulay duration times 1 plus the change in the interest rate.

Macaulay duration divided by 1 plus yield to maturity.

Macaulay duration divided by 1 plus the change in the interest rate.

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