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Both Bond Sam and Bond Dave have 11 percent coupons, make semiannual payments, and are priced at par value. Bond Sam has 3 years to

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Both Bond Sam and Bond Dave have 11 percent coupons, make semiannual payments, and are priced at par value. Bond Sam has 3 years to maturity, whereas Bond Dave has 20 years to maturity. Both bonds have a pat value of 1,000 . a. If interest rates suddenly rise by 2 percent, what is the percentage change in the price of these bonds? Note: A negetlve answer should be indicated by a minus sign. Do not round Intermediate calculavons ond enter your answers as a percent rounded to 2 decimal places, e.9. 3210. b. If rates were to suddenly fall by 2 percent instead, what would be the percentage change in the price of these bonds? Note: Do not round Intermedlate calculatlons and enter your onewer os a percent rounded to 2 decimel places, e.9., 32.10

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