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QUESTION 4 Find the Macaulay Duration (in years) of a the following bond. Term: 20 Years Yield Rate: 4.5% compounded annually Coupon Rate: 2.5% payable

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QUESTION 4 Find the Macaulay Duration (in years) of a the following bond. Term: 20 Years Yield Rate: 4.5% compounded annually Coupon Rate: 2.5% payable annually Face Value: 1000 Redemption Value: Par or Face Value Give your answer as a decimal rounded to two places (i.e. X.xx)

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