James Bank has purchased a bond that has a coupon rate of 7.25% and a face...

James Bank has purchased a bond that has a coupon rate of 7.25% and a face value of $1,000. It has 4 years to maturity and is currently selling in the market for $1,085. The bond makes annual coupon payments. What is the duration of this bond? Please show your work

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jeff jeffy answered 2 years ago

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