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Bond J has a coupon rate of 5 . 6 percent. Bond K has a coupon rate of 1 5 . 6 percent. Both bonds

Bond J has a coupon rate of 5.6 percent. Bond K has a coupon rate of 15.6 percent. Both bonds have nine years to maturity, a par value of $1,000, and a YTM of 12.2 percent, and both make semiannual payments.
a.
If interest rates suddenly rise by 2 percent, what is the percentage change in the price of these bonds? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g.,32.16.)
b. If interest rates suddenly fall by 2 percent instead, what is the percentage change in the price of these bonds? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g.,32.16.)

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