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Bond J has a coupon rate of 3 percent. Bond K has a coupon rate of 9 percent. Both bonds have 1 8 years to

Bond J has a coupon rate of 3 percent. Bond K has a coupon rate of 9 percent. Both bonds have 18 years to maturity, make
semiannual payments, and have a YTM of 7 percent.
If interest rates suddenly rise by 2 percent, what is the percentage price change of these bonds?
Note: 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.
What if rates suddenly fall by 2 percent instead?
Note: Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g.,32.16.
Percentage change in price of Bond J
Percentage change in price of Bond K
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