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9 Consider two bonds, a 3-year bond paying an annual coupon of 6.00% and a 10 -year bond also with an annual coupon of 6.00%.

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Consider two bonds, a 3-year bond paying an annual coupon of 6.00% and a 10 -year bond also with an annual coupon of 6.00%. Both currently sell at a face value of $1,000. Now suppose interest rates rise to 8%. a. What is the new price of the 3 -year bonds? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. b. What is the new price of the 10 -year bonds? Note: Do not round intermediate calculations. Round your answer to 2 decimal places

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