Both Bond Sam and Bond Dave have 6 percent coupons, make semiannual payments, and are priced at par value. Bond Sam has 4 years to maturity, whereas Bond Dave has 18 years to maturity.

	If interest rates suddenly rise by 3 percent, what is the percentage change in the price of Bond Sam?
	multiple choice 1 -9.87% -9.89% Correct -10.98% 10.10%

	If interest rates suddenly rise by 3 percent, what is the percentage change in the price of Bond Dave?
	multiple choice 2 -36.05% -26.50% 29.32% -26.48%

	If rates were to suddenly fall by 3 percent instead, what would the percentage change in the price of Bond Sam be then?
	multiple choice 3 11.21% 10.10% 11.23% -9.84%

	If rates were to suddenly fall by 3 percent instead, what would the percentage change in the price of Bond Dave be then?
	multiple choice 4 -26.45% 41.49% 41.47% 29.32%