Bond J has a coupon rate of 3 percent. Bond K has a coupon rate of 12 percent. Both bonds have 7 years to maturity, make semiannual payments, and have a YTM of 7 percent.

	If interest rates suddenly rise by 3 percent, what is the percentage price change of Bond J?
	-14.38% -16.38% -16.36% -15.38%

	If interest rates suddenly rise by 3 percent, what is the percentage price change of Bond K?
	-13.65% -11.67% -13.67% 32.63%

	If interest rates suddenly fall by 3 percent, what is the percentage price change of Bond J?
	20.20% -16.40% 20.18% -34.65%

	If interest rates suddenly fall by 3 percent, what is the percentage price change of Bond K?
	16.47% 16.59% 10.90% -13.69%