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A bond with a maturity of 3 years and a NAV of 1000 gives right to an annual coupon of 7.5% (the frequency of capitalizations

A bond with a maturity of 3 years and a NAV of 1000 gives right to an annual coupon of 7.5% (the frequency of capitalizations is annual). This bond offers a yield to maturity of 8.50% (required rate):

If the required rate falls by 1.5% (from 8.50% to 7%).

What is the percentage change in the price of the bond if you use the concepts of duration and convexity together?

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