Discuss the bond property known a convexity.State the meaning of convexity in words and then illustrate the property with a graph.Use specific numbers to show an example for a $1,000 face value,6.3% coupon bond that pays interest annually and has 20 years to maturity.Assume that the existing yield to maturity is 5.8% and describe what would happen if the yield changed by 1%.Show your numbers on a graph.
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