Section $2.$ Elaborate your answer providing full details of the solution $($i$.$e$.$ formulas or excel functions you use$)$

$13.$ The current price of a bond is $$114\mathrm{.}72$ and the current yield is $6\%.$ The modified duration of the bond is $7\mathrm{.}02.$ Use the modified duration to estimate the new price of the bond if the yield increases to $6\mathrm{.}10\%,$