Bond $J$ has a coupon rate of $4$ percent. Bond $K$ has a coupon rate of $11$ percent. Both

bonds have $7$ years to maturity, make semiannual payments, and have a YTM of $7$

percent.

If interest rates suddenly rise by $4$ percent, what is the percentage price change of

Bond $J?$

$-19\mathrm{.}55\%$

$-20\mathrm{.}55\%$

$-20\mathrm{.}53\%$

$-18\mathrm{.}55\%$

If interest rates suddenly rise by $4$ percent, what is the percentage price change of

Bond $K?$

$-17\mathrm{.}93\%$

$-15\mathrm{.}93\%$

$-17\mathrm{.}91\%$

$33\mathrm{.}41\%$

If interest rates suddenly fall by $4$ percent, what is the percentage price change of

Bond J$?$

$-20\mathrm{.}57\%$

$27\mathrm{.}07\%$

$27\mathrm{.}09\%$

$-33\mathrm{.}56\%$

If interest rates suddenly fall by $4$ percent, what is the percentage price change of

Bond $K?$

$23\mathrm{.}25\%$

$23\mathrm{.}13\%$

$1\mathrm{.}00\%$

$-17\mathrm{.}95\%$