Gringott’s is a bank that sells stock shares that provide 1 Galleon… Gringott’s is a ban

Gringott’s is a bank that sells stock shares that provide 1 Galleon… Gringott’s is a bank that sells stock shares that provide 1 Galleon at the end of everyyear, indefinitely. Newt Scamander wants to invest his money and buy such a stock to fund an animal reliefprogram in Hungary. However he heard some rumors about Gringott’s having difficulty with staying solvent.To make sure his investment is secure he wants to calculate the Macaulay duration of the future paymentshe will receive, assuming i = 0.1. He decides to make the purchase if this duration is less than 13 years. Willhe end up purchasing the stock shares or not? Justify your answer by calculating the duration. Math MATH 177 Share QuestionEmailCopy link