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c. A bond with two coupon payments per year has a current value of $8,000 and a duration of 4.5 years, the current nominal interest rate is 4% per annum with twice yearly compounding. Calculate the approximate changes in bond price to the nearest cent for an increase and decrease in interest rates of 1%. [4 marks ] d. Explain why the value obtained in Question 2.c) for the size of the change in price for an increase in interest rate is an overestimate and the value obtained for the size of the change in price for a decrease in interest rate is an underestimate. [1 marks] c. A bond with two coupon payments per year has a current value of $8,000 and a duration of 4.5 years, the current nominal interest rate is 4% per annum with twice yearly compounding. Calculate the approximate changes in bond price to the nearest cent for an increase and decrease in interest rates of 1%. [4 marks ] d. Explain why the value obtained in Question 2.c) for the size of the change in price for an increase in interest rate is an overestimate and the value obtained for the size of the change in price for a decrease in interest rate is an underestimate. [1 marks]