U.S. Treasury quotes from the WSJ on Oct. 15, 2003:
What is the duration of the above Treasury note? Use the asked price to calculate the duration. Recall that Treasuries pay interest semiannually.
A) 3.86 years.
B) 1.70 years.
C) 2.10 years.
D) 1.90 years.
E) 3.40 years.
Correct Answer:
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