Bond J has a coupon rate of 3 percent. Bond K has a coupon rate of 9 percent. Both bonds have 8 years to maturity, make semiannual payments, and have a YTM of 8 percent.

If interest rates suddenly rise by 3 percent, what is the percentage price change of Bond J? multiple choice 1 -17.93% -16.95% -17.95% -15.95% If interest rates suddenly rise by 3 percent, what is the percentage price change of Bond K? multiple choice 2 20.70% -15.39% -15.37% -13.39% If interest rates suddenly fall by 3 percent, what is the percentage price change of Bond J? multiple choice 3 -41.85% 22.66% -17.97% 22.68% If interest rates suddenly fall by 3 percent, what is the percentage price change of Bond K? multiple choice 4 19.05% -9.46% 19.17% -15.41%