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A municipal bond is selling today for 103680 and has a 1000

Question: A municipal bond is selling today for $1,036.80 and has a $1,000 face (par) value. Its yield to maturity is 6 percent, and the bond promises its holders $65 per year in interest for the next 10 years before it matures. What is the bond's duration?

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Finance Basics: A municipal bond is selling today for 103680 and has a 1000

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