Reynaldo and Apple are training a new analyst, Norah Spears. They ask Spears what she knows about duration and convexity. Spears replies with four statements:
Which of the following regarding Spears’ statements is TRUE()
A. Spears is correct with respect to all four statements.
B. Spears is correct with respect to Statement 2, but incorrect with respect to Statement 4.
C. Spears is correct with respect to Statement 3, but incorrect with respect to Statement 1.
