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Ace is receiving an annuity immediate with level annual payments of 500 for 18 years. Calculate the Macaulay duration and the Modified duration at an
Ace is receiving an annuity immediate with level annual payments of 500 for 18 years.
Calculate the Macaulay duration and the Modified duration at an annual effective rate of 6.9%.
(Round your answers to the nearest 2 decimal places.)
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