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Bond J is a 3.9% coupon bond. Bond K is a 9.9% coupon bond. Both bonds have 15 years to maturity, make semiannual payments and

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Bond J is a 3.9% coupon bond. Bond K is a 9.9% coupon bond. Both bonds have 15 years to maturity, make semiannual payments and have a YTM of 6.9%. (Do not round intermediate calculations. Negative answers should be indicated by a minus sign. Round the final answers to 2 decimal places.) If interest rates suddenly rise by 2%, what is the percentage price change of these bonds? % Percentage change in price of Bond J Percentage change in price of Bond K % What if rates suddenly fall by 2% instead? % Percentage change in price of Bond J Percentage change in price of Bond K %

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