Consider a 11-year discount bond with face value $1,000. The interest rate is 8%. What is the duration of the discount bond? Round your answer to at least 2 decimal places.

Consider a 10-year 8% coupon bond with face value $10,000. The interest rate is 9.7%. What is the duration of the coupon bond? Round your answer to at least 2 decimal places.

The required reserve ratio is 5%.

According to the simple deposit multiplier, what is the change in total checkable deposits in the banking system (in millions of $) if the amount of reserve decreases by $140 million?

Round your answer to at least 2 decimal places. An increase should be entered as a positive number and a decrease should be entered as a negative number. (E.g. A decrease of $12,345,678 should be entered as -12.35)