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QUESTION 3 1 points Save An annuity that makes semi-annual payments has a time until maturity of 10 years. A coupon bond also makes semi-annual payments, has a time until maturity of 10 years, and a coupon rate of 10%. a. The annuity has a longer duration than that of the coupon bond if its semi-annual payments are less than those of the coupon bond's semi-annual coupons. b. The annuity has a shorter duration than the coupon bond. C. The annuity has a shorter duration than that of the coupon bond only if its semi-annual payments are more than those of the coupon bond's semi-annual coupons. Od. Depending on the discount function, the duration of the annuity could be larger or smaller than that of the coupon bond. QUESTION 4 1 points Save A bank's assets consist of $50 billion in mortgages and $30 billion in commercial loans. The mortgages have a duration of 10 years and the commercial loans have a duration of 2 years. The duration of the bank's total assets are State your answer in years to the second decimal point, e.g. 5.32