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Standard decreasing twenty-year annuity immediate

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You are given that the Macaulay duration of a twenty-year level unit annuity immediate, whose present value is denoted by a20 , is 8.90, while the Macaulay duration of a standard increasing twenty-year annuity immediate, whose present value is denoted by (Ia)20 , is 12.47. Given that, find the Macaulay duration of a standard decreasing twenty-year annuity immediate, whose present value is denoted by (Da)20.

Reference no: EM132347928

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