What is the Macaulay’s Duration of a portfolio of bonds that invests 40% in a 5-year...

What is the Macaulay’s Duration of a portfolio of bonds that invests 40% in a 5-year zero coupon bond with a par of $100 and 60% in a 3 year, 5% coupon interest bond (p.a.), with a par of $100. Assume Yield to Maturity is 8% p.a.?

*Please assist with a worked answer

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jeff jeffy answered 3 months ago

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