Question: Exercise 4. Show that the Macaulay's duration weights (as defined in the notes) sum up to 1 (present the algebra used to obtain this result).

Exercise 4. Show that the Macaulay's duration weights (as defined in the notes) sum up to 1 (present the algebra used to obtain this result). Explain how the size of the cash flow at each pe- riod, coupon and principle payments, (you may consider all other variables as constants) affect the size of those weights and relate this to the value of the duration

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