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Bond J has a coupon rate of 4 percent. Bond K has a coupon rate of 11 percent. Both bonds have 8 years to maturity,

image text in transcribed Bond J has a coupon rate of 4 percent. Bond K has a coupon rate of 11 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? 15.16%17.14%16.16%17.16% If interest rates suddenly rise by 3 percent, what is the percentage price change of Bond K? 23.90%14.64%12.64%14.62% If interest rates suddenly fall by 3 percent, what is the percentage price change of Bond J? 40.42%21.59%21.57%17.18% If interest rates suddenly fall by 3 percent, what is the percentage price change of Bond K? 4.05%14.66%18.13%18.01%

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