Which bond has higher interest rate risk: a 2 -year bond, or a 20 -year bond, assuming they have the coupon rate? A bond has a face value of $2,000, an annual coupon rate of 8 percent, and yields to maturity of 10 percent. The bond was issued on 09/01/2023 and the maturity date is 08/31/2033. What is the bond's modified duration? If the interest rate decreases by 1%, what is the new bond price (Use modified duration to solve it)