Question: 2 ) Kylie bought a 7 - year, 5 0 0 0 par value bond with an annual coupon rate of 7 . 6 %

2)

Kylie bought a

7 -

year,

5000

par value bond with an annual coupon rate of

7.6 %

paid semiannually. She bought the bond with no premium or discount. Calculate the Macaulay duration of this bond with respect to the yield rate on the bond.

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