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Bond J is a 4.0% coupon bond. Bond K is a 10.0% coupon bond. Both bonds have 15 years to maturity, make semiannual payments and

Bond J is a 4.0% coupon bond. Bond K is a 10.0% coupon bond. Both bonds have 15 years to maturity, make semiannual payments and have a YTM of 7.0%. (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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