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Solve the duration of the financial instrument at a yield

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Reference no: EM132531364

A financial instrument provides three future cash flows:

  1. $1,825.21 at the end of 3 years
  2. $1,925.61 at the end of 9 years
  3. $1,509.27 at the end of 12 years

Question 1: Solve the duration (D) of the financial instrument at a yield of 7% pa compounded yearly. Give your answer in years to 2 decimal places.

Reference no: EM132531364

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