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| rev | Admin | (Created page with "'''Solution: E''' Let x be the annual payment amount. Macaulay duration is <math display = "block"> \frac{\frac{1 x}{1.1}+\frac{2 x}{1.1^2}+\frac{3 x}{1.1^3}+\cdots+\frac{7 x}{1.1^7}}{\frac{x}{1.1}+\frac{x}{1.1^2}+\frac{x}{1.1^3}+\cdots+\frac{x}{1.1^7}} =\frac{17.6315}{4.8684} = 3.62 </math> Alternatively, the duration can be calculated as <math display = "block">\frac{(Ia)_{\overline{7}|0.01}}{a_{\overline{7}|0.01}}</math> {{soacopyright | 2023 }}") | Nov 20'23 at 13:49 | +456 |