QUESTION 7 Using an annual effective interest rate of 8%, find the Macaulay Duration (in years) of a perpetuity- immediate that makes annual payments of size 50. Give your answer as a decimal rounded to two places (i.e. X.XX). QUESTION 8 Using an annual effective interest rate of 10%, find the annual Modified Duration of a perpetuity-due that makes annual payments with the first payment being for 100 and each subsequent payment being 3% larger than the previous payment. Give your answer as a decimal rounded to two places (i.e. X.XX)