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| rev | Admin | (Created page with "An insurer has a liability that is expected to result in the following cash outflows. {| class="table" ! End of Year !! Cash Outflow |- | 1 || 10 |- | 2 || 12 |- | 3 || 15 |- | 4 || 20 |- | 5 || 30 |} The insurer uses an 8% annual effective interest rate to discount future cash flows. Calculate the Macaulay duration of this liability. <ul class="mw-excansopts"><li>3.1 years</li><li>3.2 years</li><li>3.4 years</li><li>3.5 years</li><li>3.6 years</li></ul> {{soacopyr...") | Nov 20'23 at 1:19 | +489 |