Suppose you are considering adding the bond in the question above to your portfolio. Before doing so, you need to know the duration of the bond. Please compute the duration and modified duration of the bond at a 3% yield to maturity. Suppose interest rates increase by 1 percentage point (100 basis points), based upon duration, how much will the bonds value change? Will the change be positive or negative? Why.

i apologize but this is the question:

Suppose you are considering the purchase of a bond with five years remaining to maturity. The bond has a face amount of $1,000, a coupon interest rate of 4.5%, pays interest annually. The yield to maturity on this bond is currently 3%. If interest rates decrease by 1 percentage point (100 basis points), how much will the bonds value change?