Both Bond Sam and Bond Dave have $8$ percent coupons, make semiannual payments,

and are priced at par value $($you can assume this is $$1,000).$ Bond Sam has $3$ years to

maturity, whereas Bond Dave has $19$ years to maturity.

If interest rates suddenly rise by $4$ percent, what is the percentage change in the price

of Bond Sam?

$-9\mathrm{.}81\%$

$-9\mathrm{.}83\%$

$-10\mathrm{.}91\%$

$10\mathrm{.}07\%$

If interest rates suddenly rise by $4$ percent, what is the percentage change in the price

of Bond Dave?

$-29\mathrm{.}69\%$

$-42\mathrm{.}23\%$

$34\mathrm{.}59\%$

$-29\mathrm{.}67\%$

If rates were to suddenly fall by $4$ percent instead, what would the percentage change

in the price of Bond Sam be then?

$11\mathrm{.}20\%$

$10\mathrm{.}07\%$

$-9\mathrm{.}78\%$

$11\mathrm{.}18\%$

If rates were to suddenly fall by $4$ percent instead, what would the percentage change

in the price of Bond Dave be then?

$34\mathrm{.}59\%$

$52\mathrm{.}86\%$

$52\mathrm{.}88\%$

$-29\mathrm{.}64\%$