Compute The Macaulay Duration Under The Following Conditions A Bond With A Five

Compute the Macaulay duration under the following conditions:a.A bond with a five-year term to maturing, a 12 percent coupon (annual payments), and a market yield of 10 percent.b.A bond with a four-year term to maturity, a 12 percent coupon (annual payments), and a market yield of 10 percent.c.Compare your answers to Parts a and b, and discuss the implications of this for classical immunization.

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