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| rev | Admin | (Created page with "An investor purchases two bonds. The bonds have the same annual effective yield rate i, with i > 0. 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 c years, with a < c < b. Determine which of the following is an expression, in years, for the Macaulay duration of the other bond. <ul class="mw-excansopts"><li>bc/a</li><li>ac/b</li><li>ab/c</li><li>b + c...") | Nov 20'23 at 0:30 | +534 |