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Bond A pays 12% coupon annually, has a par value of $1,000 and will mature in...

Bond A pays 12% coupon annually, has a par value of $1,000 and will mature in 3 years. Using a 10% discount rate (Yield-to-Maturity). Using your information on Bond A , what is the (Macaulay) duration of the bond?

Group of answer choices 2.70 Years 2.54 Years 2.89 Years 2.20 Years

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Macaulay Duration = 2.70 Answer

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