Question 2 2 pts Consider an 8-year risk-free coupon bond with face value $100, coupon rate of 3.5% and yield-to- maturity of 3%. What is the Macaulay duration of this bond? 5.12 years 6.98 years 7.13 years 8.11 years None of the answers are correct Question 3 2 pts Consider the same situation as Q2 and assume that the convexity effect is ignorable. If the annual yield moves up by 0.1% (i.e., y + y + 0.1%), the bond price decreases roughly by 0.692% 0.592% 0.447% 0.320% None of the answers are correct