Question: a $ 1 0 0 0 face value bond has a 9 . 0 % coupon and pays interest semiannually. The bond matures in 2

a $1000 face value bond has a 9.0% coupon and pays interest semiannually. The bond matures in 2 yeas and has a yield to maturity of 6.5%. what is the Macaulay duration? *Please show work, DO NOT USE EXCEL*

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