Question: http://educ.jmu.edu/~drakepp/investments/problems/duration.pdf I need help with bond C. Bond C is a bond with a maturity of 5 yrs., a coupon rate of 5%, a yield

http://educ.jmu.edu/~drakepp/investments/problems/duration.pdf

I need help with bond C. Bond C is a bond with a maturity of 5 yrs., a coupon rate of 5%, a yield of 6%, and a par value of $100. You have to calculate the modified and effective durations. So, you have to calculate the Macaulay duration as well. I've tried the first two bonds and got the right answer for each. But I got the wrong Macaulay duration for bond C (btw the solution is in the pdf).

Please explain the solution step by step! Thanks

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