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What is the Macaulay duration in years of a 7% coupon bond with 2 years...

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Finance

What is the Macaulay duration in years of a 7% coupon bond with 2 years to maturity and a face value of $100? Assume the bond is trading at a yield of 5%, and that coupons are paid semi-annually. Assume semi-annual compounding.

Round your answer to decimal places. For example, if your answer is 5.517, then please write down 5.52.

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