A Semiannual Payment Bond with a $1,000 Par Has a 7

question 26

Multiple Choice

A semiannual payment bond with a $1,000 par has a 7 percent quoted coupon rate,a 7 percent promised YTM,and 10 years to maturity. What is the bond's duration?

• A)10.00 years
• B)8.39 years
• C)6.45 years
• D)5.20 years
• E)7.35 years

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Definitions:

Job Classification Method

A system used in human resource management for categorizing jobs into groups based on similarities in duties, responsibilities, and requirements.

Pay Grade

A step or level within an organization's salary structure that determines the amount of pay an employee receives.

Employee Competencies

The range of skills, knowledge, and attributes that are required for an employee to perform their job successfully.

Classification Systems

Methodologies or frameworks used to organize or categorize items, information, or concepts based on shared qualities or characteristics.