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QUESTION 18 A payment of $2500 is made at time t=2. A payment of $4,250 is made at time t =5 and a payment of

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QUESTION 18 A payment of $2500 is made at time t=2. A payment of $4,250 is made at time t =5 and a payment of $6,100 is made at time t=7. Using a yield rate of i = 5%, determine the value of the Macaulay duration. 5.19 4.00 3.77 4.71 4.23

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