Commercial banking

Q1- A 9-year annual coupon bond is currently selling for its par value of $10,000 with an annual yield of 7%. If the bond is callable at par, what is the effective duration of the bond, assuming rates change by 1.1%?

Q2- A 14-year zero coupon bond with a face value of $1,000 is currently selling for $40.3. Using the bond's modified duration, what is the approximate %age change in the price of the bond if interest rates rise by 71 basis points? Please write the answer in Three decimal places and NOT PERCENTAGE,

QUESTION 1 A 9 year annual coupon bond is currently selling for its par value of $10,000 with an annual yield of 7%. W the bond la collable at per, what is the effective duration of the bond, assuming rates change by 1.1%? A 14-year zero coupon bond with a face value of S1,000 is currently selling for $40.3. Using the bond's modified duration, what is the approximate age change in the price of the bond if interest rates rise by 71 basis points? Poase write the answer in Three decimal places and NOT PERCENTAGE