1. Find the duration of the following bond: Face Value: 1,000.00. Time to maturity, 6 years; coupon rate, 8%; Coupon payment, annual; Market interest rate, 8%. Explain and develop your immunization strategy if you invested in the bond.

2. Assume you reinvest all your coupon income until the holding period based on your strategy in question 1, calculate the accumulated value of invested payment(or receipt) when market interest rate is 8%, 9%, and 7%, respectively.

If you can, use excel to answer questions & provide excel spreadsheet used to solve questions (with formulas displayed)

Thank you!