Question
A pension plan is obligated to make disbursements of $4 million, $9 million, and $11 million at the end of each of the next three
A pension plan is obligated to make disbursements of $4 million, $9 million, and $11 million at the end of each of the next three years, respectively. Find the duration of the plan's obligations if the interest rate is 10.0% annually. (Round your answer to 4 decimal places.) Duration years
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Contemporary Financial Management
Authors: R. Charles Moyer, James R. McGuigan, William J. Kretlow
11th Edition
0324653506, 978-0324653502
