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(ou points) You are given the following infornation: 8% annual coupon paid at end of year, bond issued on January 1, 1980 with face amount

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(ou points) You are given the following infornation: 8% annual coupon paid at end of year, bond issued on January 1, 1980 with face amount $1,000 maturing on December 31, 1990. The yield to maturity is 8%. Find the Macaulay duration of a bond as of January 1, 1988. What is the Macaulay duration of the bond issued on January 1, 1980

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