Macaulay duration when valued using an annual interest rate

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Reference no: EM132185022

A bond will pay a coupon of $60 at the end of each 6 months until it matures for its face value of $1100 at the end of 2 years. The bond's Macaulay duration when valued using an annual interest rate of 18% compounded semiannually is X. Calculate X.

Reference no: EM132185022

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