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

Multiple Choice

A semiannual payment bond with a $1,000 par has a 7% quoted coupon rate, a 7% 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 [(t * CF_t/(1.035) ^t) ]/(2 * $1,000)