1) Suppose we have a 6-year bond with a 9.5% annual coupon, and a $1000 par value. The current yield on comparable securities is 8%. What is the price of this bond? What is the duration? If interest rates were to rise to 10.11%, what is the convexity? What does this mean?

2) Given an YTM on comparable bonds of 7.5%, calculate the duration for the following bonds. Explain the differences. 5-year maturity, 5% coupon paid annually. 5-year maturity, 11% coupon paid annually. 8-year maturity, 5% coupon paid annually. 8-year maturity, 11% coupon paid annually.

Please use excel to answer these questions, as well as show the formula's for both of these questions. Thank you.