A $$1,0005$ year bond has a coupon rate of $6\%$ and interest is paid twice per year. If the yield

to maturity is $8\%,$ what is the bond$$s duration? If interest rates are expected to fall by one

quarter of a percent, by how much would you expect the price to change using the modified

duration equation? How much would you expect the price to change using convexity? You

need to use the bond duration and convexity calculator to answer this question