A pension plan is obligated to make disbursements of 30


A pension plan is obligated to make disbursements of $3.0 million, $3.8 million, and $3.0 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 9% annually.

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Finance Basics: A pension plan is obligated to make disbursements of 30
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