Question: 6) Please explain what is meant by the duration and convexity of a bond. How do we go about deriving the duration and convexity of

6) Please explain what is meant by the duration and convexity of a bond. How do we go about deriving the duration and convexity of the bond? Why is it so important that we are able to calculate these properties for determining the interest rate risk of my securities? Explain other applications of calculus that was used in the program

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