both bond bill and bond Ted have 11.2 percent coupons, make semi annual payments and are priced at par value. bond bill has four years to maturity whereas bond Ted has 21 years to maturity.

if interest rates suddenly rise by 3 percent, what is the percentage change in the price of these bonds? bond bill ____ bond ted_____

if rates were to suddenly fall by 3 percent instead, what would be the percentage change in the price of these bonds? bond bill_______ bond Ted ______