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What is the definition of Macaulay duration? The dollar price per 100 basis point changes in a bond as its yield moves. The percentage change

What is the definition of Macaulay duration? The dollar price per 100 basis point changes in a bond as its yield moves. The percentage change in bond price with respect to the change in its yield. The weighted average time for all cash flows in a bond, measured in years. None of the above are correct

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