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Suppose a two-year 9% p.a. bond with a face value of $100 000 has a yield of 8% p.a. What is the Macaulay duration measure

Suppose a two-year 9% p.a. bond with a face value of $100 000 has a yield of 8% p.a. What is the Macaulay duration measure of this bond?

ANS: 1.876 years

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