You are a fixed-income portfolio manager in an investment company. Currently, you are analysing the impact of changing interest rates on the following bond: Name : Cagamas Bond Par Value : RM100 Maturity : 5 years Coupon : 5% payable annually Yield-to-Maturity : 7% per annum Price : RM91.80

Using modified duration method, calculate the bond price changes if the yield to maturity increases to 10%