An annuity-immediate has level annual payments for n years. The average time of the payments using the method of equated time is 10 years. The annual effective rate of interest i is equal to 10% n(n+1) (a) Calculate the value of n (hint: 1+2+3+...+n=- ); 2 (b) Based on the result from (a), calculate (la) ; (c) Determine the Macaulay duration of the payments. (d) If n=3, determine the convexity of the payments. An annuity-immediate has level annual payments for n years. The average time of the payments using the method of equated time is 10 years. The annual effective rate of interest i is equal to 10% n(n+1) (a) Calculate the value of n (hint: 1+2+3+...+n=- ); 2 (b) Based on the result from (a), calculate (la) ; (c) Determine the Macaulay duration of the payments. (d) If n=3, determine the convexity of the payments