1.

A bond with a coupon rate of 11 percent sells at a yield to maturity of 13 percent. If the bond matures in 11 years, what is the Macaulay duration of the bond? What is the modified duration? (Do not round intermediate calculations. Round your answers to 3 decimal places.)

2.

Bond P is a premium bond with an 9.8 percent coupon, a YTM of 8.55 percent, and 15 years to maturity. Bond D is a discount bond with an 9.8 percent coupon, a YTM of 11.55 percent, and also 15 years to maturity. If interest rates remain unchanged, what do you expect the price of these bonds to be 1 year from now? In 5 years? In 10 years? In 14 years? In 15 years? (Input all amounts as positive values. Do not round intermediate calculations. Round your answers to 2 decimal places. Omit the "$" sign in your response.)