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Annuity A pays 1 at the beginning of each year for three years. Annuity B pays 1 at the beginning of each year for four

image text in transcribed Annuity A pays 1 at the beginning of each year for three years. Annuity B pays 1 at the beginning of each year for four years. The Macaulay duration of Annuity A at the time of purchase is 0.93. Both annuities offer the same yield rate. Calculate the Macaulay duration of Annuity B at the time of purchase. A) 1.240 B) 1.369 C) 1.500 D) 1.930 E) 1.965

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