1 what is the duration of a 3-year bond that pays annual


1. What is the duration of a 3-year bond that pays annual coupons of 3% only in years 1 and 3 with a yield to maturity of 15%?

2. What is the approximate linear yield to maturity on a 7-year bond with a face value of $100 and a 4% annual coupon selling at $102?

Please show all work.

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Business Economics: 1 what is the duration of a 3-year bond that pays annual
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