Both Bond Sam and Bond Dave have 8 percent coupons, make semiannual payments, and are priced at par value. Bond Sam has 5 years to maturity, whereas Bond Dave has 13 years to maturity. (Do not round your intermediate calculations.)

Requirement 1:

(a)	If interest rates suddenly rise by 3 percent, what is the percentage change in the price of Bond Sam?
	(Click to select) 11.60% -12.75% -11.31% -11.29% 13.15%

(b)	If interest rates suddenly rise by 3 percent, what is the percentage change in the price of Bond Dave?
	(Click to select) -20.49% 22.13% 28.45% -25.78% -20.47%

Requirement 2:

(a)	If rates were to suddenly fall by 3 percent instead, what would the percentage change in the price of Bond Sam be then?
	(Click to select) -11.26% 13.11% 13.13% 13.18% 11.60%

(b)	If rates were to suddenly fall by 3 percent instead, what would the percentage change in the price of Bond Dave be then?
	(Click to select) 28.41% -20.44% 22.13% 28.48% 28.43%