Calculate the duration of a 1000 6 coupon bond with

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11.Calculate the duration of a $1,000, 6% coupon bond with three years to maturity. Assume that all market interest rates are 7%.
Chapter 24Question No 1 :Can financial institutions keep borrowers from engaging in risky activities if there are no restrictive covenants written into the loan agreement?
Question No 3 :If more customers want to borrow funds at the prevailing interest rate, a financial institution can increase its profits by raising interest rates on its loans. “Is this statement true false or uncertain? Explain your answer.

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