A C D F Time until :` PVOFOF : Column ( C ) 2 Payment : ( Discount rate =` : Period ( Years ) Cash flow: 5% per period!* Weight" : Column ( F) {` \A. BYA Coupon bond 0.5 40 : 38.095:` 0.03.95:` LELO'D CAT\ 1. 0 36. 281:1 0.03TO:` 1.5 $34.5.54: 0.01358 : 0. 05.37 2.0 1040: 8:55.61 1: 1.7741 8 Sum :` 404. 540: 1. 8$52 10 13 \1 4 15 16 \Semiannual int rate* :" 17 18 | Weight = Present value of each payment ( Column E ) divided by the bond price Page 1Inputs Formula in column B Settlement date* 1 / 1 12000 = DATE 1 2000, 1 , 1) Maturity date 1/1/2002 = DATE 1 20.02, 1 , 1 1 Coupon rate Q. DE Q.OB Yield to maturity 0 . 10 0. 10 Coupons per year 2 2 Outputs Macaulay duration 1. 8852 = DURATION ( BZ, B3, 8 4, 8.5, 8.6) Modified duration 1.7955 = MDURATION ( B 2, 83, 84, 8.5, 86)