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Both Bond Sam and Bond Dave have 6 . 5 percent coupons, make semiannual payments, and are priced at par value. Bond Sam has 3

Both Bond Sam and Bond Dave have 6.5 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. If interest rates suddenly rise by 2 percent, what is the percentage change in the price of Bond Sam? Of Bond Dave? If rates were to suddenly fall by 2 percent instead, what would the percentage change in the price of Bond Sam be then? Of Bond Dave? All bond price answers should be dollar prices.
\table[[Bond Sam:,],[Coupon rate,6.5%
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