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Please answer type the question by using computer, so i can see it clearly, thank you!!! Tom buys a 3% annual coupon bond with five

Please answer type the question by using computer, so i can see it clearly, thank you!!!

Tom buys a 3% annual coupon bond with five years to maturity.

Par value is $1,000.

The bond has a yield-to-maturity of 8%.

1(a) Calculate the duration and modified duration of the bond.

1(b) What is the new bond price using the duration concept, if the yield decreases to 7.5%?

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