Question: 3: ( 3 points) Someone promises to pay you ( $ 1,000 ) in years 5,10 and 15 for a total of ( $ 3,000

3: ( 3 points) Someone promises to pay you $ \$ 1,000 $ in years 5,10 and 15 for a total of $ \$ 3,000 $. Assume your required return is $ 8 \% $. a. what is the duration of this promise

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