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15. (Annuity duration ) Find the duration D and the modified duration DM of a perpetual annuity that pays an amount A at the beginning
15. (Annuity duration ) Find the duration D and the modified duration DM of a perpetual annuity that pays an amount A at the beginning of each year, with the first such payment being 1 year from now. Assume a constant interest rate r compounded yearly. [Hint: It is not necessary to evaluate any new summations.] Step by Step Solution
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How Much Can I Spend In Retirement A Guide To Investment Based Retirement Income Strategies
Authors: Wade D Pfau
1st Edition
1945640022, 978-1945640025
