Question
Macaulay's Duration: a. is a weighted average of the time until cash flows are received b. is always greater than maturity c. is never equal
Macaulay's Duration: a. is a weighted average of the time until cash flows are received b. is always greater than maturity c. is never equal to maturity d. directly indicates how much the price of a security will change given a change in interest rates e. estimates when embedded options will be used
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
