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a) What is the duration of a four-year semiannual coupon bond with a 6 percent coupon rate selling at par?
b) What is the duration of a three-year semiannual coupon bond with a 6 percent coupon rate selling at par?
c) What is the duration of a two-year semiannual coupon bond with a 6 percent coupon rate selling at par?
d) Using these results, what conclusions can you draw about the relationship between duration and maturity?
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