Calculate the duration of the security below, using an 8% interest rate. A bond that makes a single payment of $160 at the end of period 3 . Write your answer to two digits, e.g., 2.22 (X.XX) Question 7 Calculate the modified duration (volatility) of the security below, using an 8% interest rate. A bond that makes a single payment of $160 at the end of period 3. Write your answer to two digits, e.g., 2.22 (X.XX)