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| rev | Admin | (Created page with "Yankee Inc. has sold the Super Coupon Absolute Marvel (SCAM) security to raise new funds. Unlike ordinary bonds, it pays no par value/face value at the end of its life. It only pays coupons every year as follows: $100(1 + 0.05) at the end of year one, $100(1 + 0.05)2 at the end of year two, and so on. This security lasts for 4 years (i.e., makes 4 payments). The current interest rate is 5% for all maturities. What is the duration today of SCAM? <ul class="mw-excansopts...") | Dec 5'23 at 0:29 | +836 |