You have some MBS pass-through securities with a par value of $300 million and a par rate of 6.5%. The weighted average maturity (WAM) of the mortgage pool is 6 months and the weighted average coupon (WAC) is 7.00%. The continuously compounded interest rate is fixed at 5% over all maturities. 

1. If PSA increases to 300% when interest rates fall by 50 bps and PSA decreases to 100% when interest rates rise by 50 bps, what is the effective duration of the pass-through securities? 2. If PSA increases to 300% when interest rates fall by 50 bps and PSA decreases to 100% when interest rates rise by 50 bps, what is the effective convexity of that pass-through securities?