Rewrite CPT url parameter

I am rather novice to rewriting so I would appreciate some help.

I’ve set up a custom post type (teacher) in WP. Later, it was decided that its slug must be changed to (instructor). The problem is that the old slug is hardcoded in many posts as a url parameter. For example:

I would like to set up a rewrite rule so that the above URL does not return a 404. It should be rewritten as:

Is this possible? Any help would be great.
Thank you very much.

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