Texas Ba II Plus - correct value of Duration

CFA Level I Fixed Income
#1

I am trying to calculate Macaulay duration of 10 year bond, 8% annual coupon, YTM 10%. Correct answer is 7.04, but I am arriving at another answer so far, by inputting the following values:

SDT 1.0120
CPN 8
RDT 1.0130
360
1/Y
YLD 10
PRI (calculate) 87.71 which is OK
Duration 6,4

What is wrong with my calculator?:frowning:

#2

Is 6.4 the modified duration? If so, then the Macaulay duration is 6.4 x 1.1 = 7.04.

Do the calculators do duration now??? :dizzy_face:

ETA: I just confirmed using my BAII that the Macaulay duration is indeed 7.04.

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