A 10 - year zero coupon bond with a face value of $1,000 is currently selling for $512.5. Using the bond's modified duration, what is the approximate change in the price of the bond if interest rates rise by 50 basis points?

1)

-5.13%

2)

5.13%

3)	Not enough information is given to answer the question.

4)

-4.68%

5)

4.68%