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You want to determine the Macauley duration for Bond XYZ. You invest in this bond on December 1, 2021. This bond matures on December 1,

You want to determine the Macauley duration for Bond XYZ.

You invest in this bond on December 1, 2021.

This bond matures on December 1, 2033.

Par value $1,000

Yield-to-maturity 2.50%

Annual coupon 3.15%, payable semi-annually

Use Excel to find this bonds Macauley duration. Be sure to attach Excel spreadsheet & that Excel formulas are shown.

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