1. All other things equal (YTM = 10%), which of the following has the longest duration? * OA) A 30-year bond with a 10% coupon B) A 20-year bond with a 9% coupon C) A 20-year bond with a 7% coupon D) A 10-year zero-coupon bond E) None of the above 2. Because of convexity, when interest rates change, the actual bond price will the bond price predicted by duration.* A) always be lower than B) sometimes be higher than C) always be higher than D) sometimes be lower than E) None of the above