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5. A $100 par value bond with 5% annual coupons and maturing at par in 3 years sells at a price to yield 7%. Determine

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5. A $100 par value bond with 5% annual coupons and maturing at par in 3 years sells at a price to yield 7%. Determine the Macaulay duration of the bond. 5. A $100 par value bond with 5% annual coupons and maturing at par in 3 years sells at a price to yield 7%. Determine the Macaulay duration of the bond

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