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5. (5pts) Determine the Macaulay duration for each of the following assets at an effective annual...

5. (5pts) Determine the Macaulay duration for each of the following assets at an effective annual interest rate of 5%. (a) A 10 year zero coupon bond (b) A 10 year bond with 5% annual coupons (c) A 10 year bond with 10% annual coupons (d) A 10 year mortgage with level annual payments (e) A perpetuity-immediate with level annual payments

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