A loan is to be repaid with payments of $1,000 at the end of one year, $2,000 at the end of two years, and $3,000 at the end of three years. The effective rate of interest is 25%. Calculate the following: a) (Macaulay) Duration (1 point) b) Modified Duration (1 point) c) Convexity (1 point) A loan is to be repaid with payments of $1,000 at the end of one year, $2,000 at the end of two years, and $3,000 at the end of three years. The effective rate of interest is 25%. Calculate the following: a) (Macaulay) Duration (1 point) b) Modified Duration (1 point) c) Convexity (1 point)