Both Bond Sam and Bond Dave have 9 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 5 percent, what is the percentage change in the price of Bond Sam?
	multiple choice 1 -14.91% -17.55% 15.48% -14.93%

	If interest rates suddenly rise by 5 percent, what is the percentage change in the price of Bond Dave?
	multiple choice 2 -32.57% -32.59% 38.92% -48.34%

	If rates were to suddenly fall by 5 percent instead, what would the percentage change in the price of Bond Sam be then?
	multiple choice 3 18.31% 15.48% 18.29% -14.88%

	If rates were to suddenly fall by 5 percent instead, what would the percentage change in the price of Bond Dave be then?
	multiple choice 4 63.72% 63.70% -32.54% 38.92%