Is there any way that we could get the Macaulay duration using the financial calculator?
If you’re asking if there’s any built-in function for it, the answer’s, “No.”
Thanks for your reply, but is there any faster/easier way than discounting each cash flow and do the long manual process? or it has to be done this way?
Unfortunately, there’s no faster way.
However, if you have to do it on the exam (which I consider to be quite unlikely), they’ll give you a very short bond: 2 or 3 years.
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I think you could use the C.F. worksheet and the NPV function. I’ll try an example later.
Example: 4 year, 7% coupon, 5% market yield, all annual
Bond price:
2nd P/Y 1 ENTER C/Y 1 ENTER
2nd CLR TVM
N 4 I 5 PMT 7 FV 100 CPT PV -107.091901
Numerator of Macaulay formula
CF
2nd CLR WRK
C01 7 ENTER F01 1 C02 14 F02 1 C03 21 F03 1 C04 428 F04 1
2nd QUIT
NPV worksheet
I 5 CPT NPV 389.622328
Macaulay duration = 389.622328/107.091901 = 3.638
For non-annual compounding and coupons, you would have to adjust rates and cash flows accordingly.
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Cool!
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Genius! thanks a lot!
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t * CF(t) = 4 * (face + coupon) = 4 * (100 +7) = 4 *107 = 428.
That should be C04= 428 F04=1 (CF of 107 at time 4 happening just once). Thank you for spotting that!!! I fixed it in my original post!! 
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