Calculate the Modified Duration of the following securities: 10 % semi-annual coupon maturating in 5 years trading at a yield of 8 % 6 % annual coupon maturating in 9 years trading at a yield of 8 %...

Extracted text: Calculate the Modified Duration of the following securities: 10 % semi-annual coupon maturating in 5 years trading at a yield of 8 % 6 % annual coupon maturating in 9 years trading at a yield of 8 % Also, please explain what is convexity as it applies to one of the above securities