Bond Dave has a 7 percent coupon bonds outstanding, with semiannual interest payments, and is priced at par value. Bond Dave bond has 16 years to maturity.

If interest rates suddenly rise by 2 percent, what is the percentage change in the price of this bond (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

% Change in price is _____

If interest rates were to suddenly fall by 2 percent instead, what would the percentage change in the price of these bonds be then? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

% Change in price is _____