Investments

PLEASE SHOW THE ANSWERS IN STEPS SO I CAN BE ABLE TO UNDERSTAND IT , AND SHOW THE INPUTS IN THE CALCULATOR

The question is answered already in chegg , however please DO NOT answer it the way it was answered ( show steps )

Question #1 Assume that a straight bond has approximate duration of 1.89 and a convexity of 32. If interest rates decline by 65.5bp what is the total estimated percentage price change of the bond? Question #2 A non-callable bond with 192 months remaining maturity has a semi-annual coupon of 5.5% and a $1,000 par value. The yield to maturity on the bond is 4.8%. Which of the following is closest to the estimated price change of the bond using duration if rates rise by 75 basis points