1. You are managing a portfolio of $2.9 million. Your target duration is 14 years, and you can choose from two bonds: a zero-coupon bond with maturity 5 years, and a perpetuity, each currently yielding 5%.
2. Joey Logano won the 57th Daytona 500 in February 2015. If he paid back a $6,800 loan with $20 interest at 7.5%, what was the time of the loan? (Round days up. Do not round intermediate calculations. Use 360 days a year.) Time of the loan days