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Consider the following cashflow. Now is time t = 0 , with time measure in years. There will be 6 annual payments of 1 0
Consider the following cashflow. Now is time with time measure in years.
There will be annual payments of each, starting with the first payment at
At there will be a payment of
Assuming the current term structure is flat at what is the Macaulay
duration of the cashflow?
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