SOA Exam FM Sample Question 411
Study guide: Exam FM-2
Jeremy purchases a perpetuity providing a payment of 1 at the end of each year. The perpetuity's modified duration is 15 years.
Calculate the Macaulay duration of this perpetuity.
- A) 14.00
- B) 14.46
- C) 15.07
- D) 15.94
- E) 16.00
Answer this question and see the worked solution