The Numbers Provided Are in Millions of Dollars and Reflect

question 76

Multiple Choice

The numbers provided are in millions of dollars and reflect market values:
-The short-term debt consists of 4-year bonds paying an annual coupon of 4 percent and selling at par.What is the duration of the short-term debt?

• A)3.28 years
• B)3.53 years
• C)3.78 years.
• D)4.03 years.

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