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Without calculating, rank the following bonds based on their durations and explain your reasoning. a. 2-year zero coupon bond with face value $100 b. 2-year

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Without calculating, rank the following bonds based on their durations and explain your reasoning. a. 2-year zero coupon bond with face value $100 b. 2-year 3% coupon bond with face value of $100, paying coupons annually c. 2-year 3% coupon bond with face value of $100, paying coupons semi-annually Now rank them based on their convexity (again without doing a calculation) and explain your reasoning

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