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| rev | Admin | (Created page with "An investor purchases two bonds having the same positive annual effective yield rate. With respect to the annual effective yield rate, their modified durations are a years and b years, with 0 < <a b . One of these two bonds has a Macaulay duration of d years, with a < d < b. Determine which of the following is an expression for the Macaulay duration of the other bond, in years. <ul class="mw-excansopts"><li>bd / a</li><li>ad / b</li><li>ab / d</li><li>b + d – a</li><l...") | Nov 20'23 at 19:23 | +524 |