9. Bond J has a coupon rate of 5 percent. Bond K has a coupon rate of 12 percent. Both bonds have 7 years to maturity, make semiannual payments, and have a YTM of 9 percent.

a. If interest rates suddenly rise by 4 percent, what is the percentage price change of Bond J?

b. If interest rates suddenly rise by 4 percent, what is the percentage price change of Bond K?

c. If interest rates suddenly fall by 4 percent, what is the percentage price change of Bond J?

d. If interest rates suddenly fall by 4 percent, what is the percentage price change of Bond K?

please answer these questions step by step without using excel and tables, and but by using a business analyst calculator