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5. A pension plan is obligated to make disbursements of $1 million, $2 million, and $1 million every six months during the next 1.5 years.

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5. A pension plan is obligated to make disbursements of $1 million, $2 million, and $1 million every six months during the next 1.5 years. What is the duration if the market interest rate is 8% ? (10 %)

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