Both Bond Sam and Bond Dave have 10 percent coupons, make semiannual payments, and are priced at par value. Bond Sam has 4 years to maturity, whereas Bond Dave has 16 years to maturity. (Do not round your intermediate calculations.)

Requirement 1:

(a)	If interest rates suddenly rise by 3 percent, what is the percentage change in the price of Bond Sam?
	(Click to select) -9.11% 10.33% 9.35% -9.13% -10.05%

(b)	If interest rates suddenly rise by 3 percent, what is the percentage change in the price of Bond Dave?
	(Click to select) -20.00% -19.98% 22.24% 28.62% -25.00%

Requirement 2:

(a)	If rates were to suddenly fall by 3 percent instead, what would the percentage change in the price of Bond Sam be then?
	(Click to select) 9.35% 10.36% -9.08% 10.31% 10.29%

(b)	If rates were to suddenly fall by 3 percent instead, what would the percentage change in the price of Bond Dave be then?
	(Click to select) 22.24% 28.65% 28.60% 28.58% -19.95%