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Laurie bought a 5-year level annuity with payments made at the end of each year. The annuity has an annual yield rate of 7,0% and

Laurie bought a 5-year level annuity with payments made at the end of each year. The annuity has an annual yield rate of 7,0% and a modified convexity of 11.4080. Calculate the Macaulay convexity of the annuity. 9.9 10.2 11.7 12.2 13.1

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