Both Bond Sam and Bond Dave have 8 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 4 percent, what is the percentage change in the price of Bond Sam?
	multiple choice 1 12.78% -12.40% -14.18% -12.42%

	If interest rates suddenly rise by 4 percent, what is the percentage change in the price of Bond Dave?
	multiple choice 2 -29.24% -41.33% 33.77% -29.22%

	If rates were to suddenly fall by 4 percent instead, what would the percentage change in the price of Bond Sam be then?
	multiple choice 3 -12.37% 14.65% 12.78% 14.63%

	If rates were to suddenly fall by 4 percent instead, what would the percentage change in the price of Bond Dave be then?
	multiple choice 4 50.98% 50.96% -29.19% 33.77%