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Bond J has a coupon rate of 4 percent. Bond K has a coupon rate of 10 percent. Both bonds have 8 years to maturity,

Bond J has a coupon rate of 4 percent. Bond K has a coupon rate of 10 percent. Both bonds have 8 years to maturity, make semiannual payments, and have a YTM of 9 percent. If interest rates suddenly rise by 3 percent, what is the percentage price change of Bond J? If interest rates suddenly rise by 3 percent, what is the percentage price change of Bond K? If interest rates suddenly fall by 3 percent, what is the percentage price change of Bond J? If interest rates suddenly fall by 3 percent, what is the percentage price change of Bond K?

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