Question: Question 15 (1 point) A perpetuity due pays $40 at the beginning of every year and earns 5% annual effective interest. Calculate the modified duration

Question 15 (1 point) A perpetuity due pays $40 at the

Question 15 (1 point) A perpetuity due pays $40 at the beginning of every year and earns 5% annual effective interest. Calculate the modified duration of the perpetuity. a) 19 b) 18 c) 17 d) 20 e) 16

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