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Bond J has a coupon of 4.8 percent. Bond K has a coupon of 8.8 percent. Both bonds have 10 years to maturity and have

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Bond J has a coupon of 4.8 percent. Bond K has a coupon of 8.8 percent. Both bonds have 10 years to maturity and have a YTM of 6.2 percent. a. If interest rates suddenly rise by 1.2 percent, what is the percentage price change of these bonds? (A negative value should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.) Answer is complete but not entirely correct. %A in Price -8.59 Bond J Bond K % % -7.82 b. If interest rates suddenly fall by 1.2 percent, what is the percentage price change of these bonds? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.) Answer is complete but not entirely correct. %A in Price 9.65 % Bond J Bond K 8.73 %

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