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6. What is the Macaulay duration of a semiannual-pay 7.4 percent coupon bond with 6 years to
maturity and a yield to maturity of 8.8 percent? Answer to two decimals, carry intermediate
calcs. to four decimals.
9. A $1000 par, semiannual-pay bond has a current price of $1,060 has a modified duration of
5.56. What is the dollar value of an 01? Answer to two decimals. Carry intermediate calcs. to
four decimals.

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