Both Bond Bill and Bond Ted have 10.2 percent coupons, make semiannual payments, and are priced at par value. Bond Bill has 4 years to maturity, whereas Bond Ted has 21 years to maturity. Both bonds have a par value of 1,000.

If interest rates suddenly rise by 2 percent, what is the percentage change in the price of these bonds?

If rates were to suddenly fall by 2 percent instead, what would be the percentage change in the price of these bonds?