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Question 3 1 pts A pension fund must pay out $1 million next year (Year 1), $1 million the following year (Year 2), and then

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Question 3 1 pts A pension fund must pay out $1 million next year (Year 1), $1 million the following year (Year 2), and then $6 million the year after that (Year 3). If the discount rate is 8% p.a., what is the Macaulay duration of this set of payments? 2.20 years 0 2.59 years 0 2.39 years 1.95 years

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