Question: 1 . A ( 7 % ) annual payment bond matures on May 1 , 2 0 2 5 and is purchased

1. A \(7\%\) annual payment bond matures on May 1,2025 and is purchased for settlement on Mar 1,2022. The YTM is \(5.00\%\). Calculate the bond's Macaulay duration (street convention)(8 points)
1 . A \ ( 7 \ % \ ) annual payment bond matures

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