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Both Bond Bill and Bond Ted have 10.6 percent coupons, make semiannual payments, and are priced at par value. Bond Bill has 6 years to

Both Bond Bill and Bond Ted have 10.6 percent coupons, make semiannual payments, and are priced at par value. Bond Bill has 6 years to maturity, whereas Bond Ted has 23 years to maturity. Requirement 1: If interest rates suddenly rise by 2 percent, what is the percentage change in the price of these bonds? Requirement 2: If rates were to suddenly fall by 2 percent instead, what would be the percentage change in the price of these bonds

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