What is the duration of a three-year bond with a 5% coupon rate, a face value of $1,000, and a yield to maturity of 6%? Interest payments are made annually.
A)2 years
B)2.58 years
C)2.86 years
D)3 years
E)Insufficient information

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The Answer of What is the duration of a three-year bond with a 5% coupon rate, a face value of $1,000, and a yield to maturity of 6%? Interest payments are made annually.
A)2 years
B)2.58 years
C)2.86 years
D)3 years
E)Insufficient information

What Is the Duration of a Three-Year Bond with a 5