Bond Price Change: Duration and Convexity Analysis

A bond with a face value of $1,000 pays a fixed annual coupon of 7% and matures in 10 years. The bond's yield to maturity (YTM) is currently 5%.

If interest rates rise by 1%, what will the approximate percentage change in the bond's price be, considering its duration is 7 years and its convexity is 60?