A pension plan is obligated to make disbursements of 27


A pension plan is obligated to make disbursements of $2.7 million, $3.7 million, and $2.7 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 10% annually. (Do not round intermediate calculations. Round your answer to 4 decimal places.)

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Financial Management: A pension plan is obligated to make disbursements of 27
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