What is the duration (D) of a 2-year bond with a $35 annual coupon (paid annually), $1,000 par, and a yield of 6.4%? Record your answer to the nearest 0.001 years.

A bond with a $1,000 par, 5 years to maturity, a coupon rate of 3%, and annual payments has a yield to maturity of 3.7%. What will be the actual percentage change in the bond price if the yield changes instantaneously to 5.5%? (If your answer is, e.g., 1.123%, enter it as 1.123.)

A bond with duration of 3.4 years has a yield of 4.94%. If the yield changes to 4.05%, what percentage price change would the duration measure predict? (Report your answer to three decimals, without the % symbol. E.g., if your answer is -5.342%, report it as -5.342.)

Why are repurchase agreement (repo) yields usually lower than yields on federal funds loans of the same maturity between the same counterparties? (Maximum 3 sentences, maximum 100 words.) Maximum number of characters (including HTML tags added by text editor): 32,000