PERHITUNGAN

MACAULAY DURATION
(EX-EXCELL)

Macaulay Duration untuk Bond A

1

Year

Cash Flow PV at 8%
1
2
3
4
5
6
7
8
9
10

$40
$40
$40
$40
$40
$40
$40
$40
$40
$1,040

Sum
Duration = 8,12 years

0.9259
0.8573
0.7938
0.7350
0.6806
0.6302
0.5853
0.5403
0.5002
0.4632

5
PV as % of
PV of Flow
Price
($)
37.04
0.0506
34.29
0.0469
31.75
0.0434
29.40
0.0402
27.22
0.0372
25.21
0.0345
23.41
0.0319
21.61
0.0295
20.01
0.0274
481.73
0.6585
740.79

1.0001

6
(1x5)
0.0506
0.0938
0.1302
0.1608
0.1860
0.2070
0.2233
0.2360
0.2466
6.5850
8.1193

Macaulay Duration untuk Bond B

1

Year

Cash Flow

PV at 8%

1
2
3
4
5
6
7
8
9
10

$80
$80
$80
$80
$80
$80
$80
$80
$80
$1,080

Sum
Duration = 7,25 years

0.9259
0.8573
0.7938
0.7350
0.6806
0.6302
0.5853
0.5403
0.5002
0.4632

5
PV as % of
PV of Flow
Price
($)
74.07
0.0741
68.58
0.0686
63.50
0.0635
58.80
0.0588
54.45
0.0544
50.42
0.0504
46.82
0.0467
43.22
0.0432
40.02
0.0400
500.26
0.5003
1008.39
1.0000

6
(1x5)

0.0741
0.1372
0.1905
0.2352
0.2720
0.3024
0.3269
0.3456
0.3600
5.0030
7.2469

TAMAT