An analyst gathers the following information about a 6% coupon bond currently trading at par:
Benchmark Rate | Price per 100 of Par Value
--------------|--------------------------
5.9% | 100.75
6.0% | 100.00
6.1% | 99.26
The bond's effective duration is closest to: | Chartered Financial Analyst Level 1 Quiz - LeetQuiz
Chartered Financial Analyst Level 1
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An analyst gathers the following information about a 6% coupon bond currently trading at par: