3. Consider a 12-year 5.5% coupon bond and a nine-year 7.5% coupon bond. Without making any calculations, which bond do you believe is more sensitive to interest rate changes? Explain. 4. Take the two bonds from question #3 and assume that the YTM for both bonds is 7.0%. Compute their prices. If the YTMs on the two bonds decline to 6.0%, by what % will each bond's price change? $880.86; $1,032.58; 8.767%; 6.725%