a. An insurance company has a liability of paying out an annuity, $163 per year for the next fifteen years. The duration of this liability is calculated to be 6.2789 years at 10% YTM. Solve for the convexity of the liability at 5%, 10%, 15% and 20% rate of interest (last column of Table 3.6). Show your calculations in EXCEL (Note that Example 3.3 provides the duration of bonds, the EXCEL lecture for Week 9 a. An insurance company has a liability of paying out an annuity, $163 per year for the next fifteen years. The duration of this liability is calculated to be 6.2789 years at 10% YTM. Solve for the convexity of the liability at 5%, 10%, 15% and 20% rate of interest (last column of Table 3.6). Show your calculations in EXCEL (Note that Example 3.3 provides the duration of bonds, the EXCEL lecture for Week 9