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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Financial Markets And Institutions
Authors: Jeff Madura
9th Edition
1439038848, 978-1439038840
