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No excel. Question 14.05 Consider two annuities that have the same yield and make annual payments. The first annuity is a level n-year annuity-due, and

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Question 14.05 Consider two annuities that have the same yield and make annual payments. The first annuity is a level n-year annuity-due, and its Macaulay duration is 3 . The second annuity is a level n-year annuity-immediate, and its Macaulay duration is X. Calculate X. A 3.00 B 3.25 C 3.50 D 4.00 E 4.50

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