Question: How do you get to this answer/result? please show working Question 2 0 out of 1 points A one-year, $400,000 loan carries a coupon rate

How do you get to this answer/result? please show working

Question 2 0 out of 1 points A one-year, $400,000 loan carries a coupon rate and a market rate of 6% pa. The loan requires payment of accrued interest and one-half of the principal at the end of six months. The remaining principal and accrued interest are due at the end of the year. What is the duration of this loan? (answer in years, round to four decimal places) Selected Answer: * [None Given] Correct Answer: 0.7427

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