Bond $J$ has a coupon rate of $6$ percent. Bond $K$ has a coupon rate of $10$ percent. Both

bonds have $9$ years to maturity, make semiannual payments, and have a YTM of $8$

percent.

If interest rates suddenly rise by $3$ percent, what is the percentage price change of

Bond J$?$

$-16\mathrm{.}70\%$

$-17\mathrm{.}68\%$

$-15\mathrm{.}70\%$

$-17\mathrm{.}70\%$

If interest rates suddenly rise by $3$ percent, what is the percentage price change of

Bond $K?$

$-14\mathrm{.}23\%$

$-16\mathrm{.}23\%$

$-16\mathrm{.}21\%$

$26\mathrm{.}41\%$

If interest rates suddenly fall by $3$ percent, what is the percentage price change of

Bond J$?$

$22\mathrm{.}69\%$

$-28\mathrm{.}12\%$

$22\mathrm{.}71\%$

$-17\mathrm{.}72\%$

If interest rates suddenly fall by $3$ percent, what is the percentage price change of

Bond K$?$

$-16\mathrm{.}25\%$

$20\mathrm{.}61\%$

$20\mathrm{.}49\%$

$-4\mathrm{.}62\%$