Question: A 3 - year 2 % $ 3 5 0 0 bond has annual coupons and a redemption amount of $ 3 5 8 0

A 3-year 2% $3500 bond has annual coupons and a redemption amount of $3580. Find the modified convexity (compounded annually) and the Macaulay convexity of this bond at an annual interest rate of 4.5%. Round your answers to three decimal places.
(a)(0.045,1)= years
(b)(0.045,\infty )= years

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