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Bond J has a coupon rate of 5.5 percent Bond S has a coupon rate of 15.5 percent. Both bonds have eight years to maturity,

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Bond J has a coupon rate of 5.5 percent Bond S has a coupon rate of 15.5 percent. Both bonds have eight years to maturity, make semiannual payments and have a YTM of 12 percent. Requirement 1: If interest rates suddenly use by 3 percent. that is the percentage change m the price of these bonds? (Do not round intermediate calculations. Negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places (e.g.. 32.16).) Requirement 2: The interest rates suddenly fall by 3 percent instead. What the percentage change in the price of these bonds? (Do not round intermediate calculations Round your answers to 2 decimal places (e.g., 32.16).)

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