Please explain without using excel.

Problems/Short Answer (Points as noted) 1. Use the table below for the questions that follow. A B Duration Coupon Rate 6% Zero coupon Yield 4.5% 6.25% Maturity 3 years I (7 years - NO CALC'S NEE) (a) Compute the duration of each bond, assuming annual interest payments for the coupon bonds. Show your work below. 4 points) (b) What is the duration predicted price change for each bond for a 1% increase in rates? Show your work below. (6 points)