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Question A pension plan is obligated to make disbursements of $1.4 million, $2.4 million, and $1.4 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 8% annually. (Do not round intermediate calculations. Round your answer to 4 decimal places.) Duration ??? years

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Question

A pension plan is obligated to make disbursements of $1.4 million, $2.4 million, and $1.4 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 8% annually. (Do not round intermediate calculations. Round your answer to 4 decimal places.)

Duration        ???    years

 
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