Hello, I have these 2 questions and answers, but I would like a broader explanation to help me understand

4. Current spot rates are given in the table below. Based on pure expectation theory, what price should a 12-month bank bill with face value of $10,000 be sold for in 2 years' time? Term (years) 2 3 4 Interest rate (% p.a.) 5.0 6.0 6.8 7.4 (1+,i3)= (1+,i2)*(1+ziz) (1.068) = 1.06% *(1+,iz) 1.0683 (1+1) = 1.062 213 = 1.0841816-1 ziz = 8.42% p.a. FV MV (1+,i2) 10,000 MV (1.0842) = $9,223.55 = 1. Calculate the duration of a 18-month, 6% p.a. semi-annual coupon bond with a face value of $1000 if interest rates are 4% p.a. i(% p.a.): 1 2 4 0.02 30 29.41176 29.41176 30 28.83506 57.67013 1030 970.592 2911.776 1028.839 2998.858 3 Duration: 2.914799 1.457399 years