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Answer:
Calculate the Macaulay duration of Annuity B at the time of purchase is 1.369.
Step-by-step explanation:
First, we use 0.93 to calculate the v which equals 1/(1+i).
= 0.93
After rearranging the equation, we get 1.07 + 0.07v - 0.93=0
So, v=0.9
Mac D:
After substituting the value of v, we get Mac D = 1.369.