An annuity makes the following payments:

a) 1000 at the beginning of each year for 10 years starting today.

b) 4000 at the beginning of each year for 20 years starting to 10 years from now .

Calculate the Macaulay Duration using a

annual interest rate of 5%

THIS IS FINANCIAL MATHEMATICS

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An annuity makes the following payments: a) 1000 at the beginning of each year for 10 year starting today b) 4000 at the beginning of each year for 20 years starting 10 years from now. Calculate the Macaulay Duration using an annual interest rate of 5%