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A 5 year $17,500 face value bond has a coupon rate of 2.5% and is priced at $16,133.49. Find the Macaulay duration of the bond.

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A 5 year $17,500 face value bond has a coupon rate of 2.5% and is priced at $16,133.49. Find the Macaulay duration of the bond. (Hint: first find the yield rate j.) a. 5.000 years on b. 5.158 years C. 2.579% d. 4.681 years e. 9.362 years Certainty : C=1 (Unsure: 67%) OC=3 (Quite sure: >80%)

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