Laurie bought a 5-year coupon bond with a redemption value of 1,000 paid at the end of the 5th year. Coupons are paid at the end of each year. The bond has an annual yield rate of 6%. The bond has a modified duration of 4.045 and a modified convexity of 21.664. Calculate the Macaulay convexity of the bond.

Laurie bought a 5-year coupon bond with a redemption value of 1,000 paid at the end of the 5th year. Coupons are paid at the end of each year. The bond has an annual yield rate of 6%. The bond has a modified duration of 4.045 and a modified convexity of 21.664. Calculate the Macaulay convexity of the bond. 18.4 B 19.3 20.1 D 24.3 E 23.0 Laurie bought a 5-year coupon bond with a redemption value of 1,000 paid at the end of the 5th year. Coupons are paid at the end of each year. The bond has an annual yield rate of 6%. The bond has a modified duration of 4.045 and a modified convexity of 21.664. Calculate the Macaulay convexity of the bond. 18.4 B 19.3 20.1 D 24.3 E 23.0