Calculate the duration for a bond with an annual coupon of 8%, nominal value of 100 euros, time until maturity 5 years and yield at maturity equal to 10%. a) What is the modified duration of the bond? b) What do we call yield to maturity at the end of a bond and what does it represent? What is the relationship between the current and the nominal value of the bond when the bond is traded for, under, or even? c) If the yield on maturity increases sharply from 10% to 10.30%, what will be the new bond price?