Both Bond Sam and Bond Dave have 8 percent coupons, make semiannual payments, and are priced at par value. Bond Sam has 3 years to maturity, whereas Bond Dave has 11 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 -7.49% -8.10% -7.47% 7.63%

	If interest rates suddenly rise by 3 percent, what is the percentage change in the price of Bond Dave?
	multiple choice 2 -18.87% -18.85% -23.27% 20.09%

	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 8.26% -7.44% 8.24% 7.63%

	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 20.09% -18.82% 25.13% 25.15%