question archive A pension plan is obligated to make disbursements of $2
A pension plan is obligated to make disbursements of $2
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A pension plan is obligated to make disbursements of $2.6 million, $3.6 million, and $2.6 million at the end of each of the next three years, respectively. Find the duration of the plan's obligations if the interest rate is 7% annually. (Do not round intermediate calculations. Round your answer to 4 decimal places.)
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