CFA Level I sample question

CFA Level I 11. Yield-Based Bond Duration Measures and Properties question

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11. Yield-Based Bond Duration Measures and Properties sample question

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11. Yield-Based Bond Duration Measures and Properties

A three-year annual-pay 4% coupon bond is priced to yield 5%. Its Macaulay duration is 2.884 years. The modified duration is closest to:

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