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Bond Q is a 4 percent coupon bond. Bond R is a 6 percent coupon bond. Both bonds have 1 5 years to maturity, make

Bond Q is a 4 percent coupon bond. Bond R is a 6 percent coupon bond. Both bonds have 15years to maturity, make annual coupon payments, and have a YTM of 6 percent. If interest rate (YTM) changes from 6 percent to 8 percent, what is the percentage price change of these bonds? What if the YTM suddenly falls from 6 percent to 4 percent instead? What does this problem tell you about the interest rate risk of lower-coupon bonds?

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