Consider the following bonds:

Bond A: A 2-year zero-coupon bond with a face value of $100 and 6% YTM.

Bond B: A 2-year par-value bond with a face value of $100 and 6% coupon.

Bond C: A 2-year par-value bond with a face value of $100 and 7% coupon.

Bond D: A 3-year par-value bond with a face value of $100 and 7% coupon.

Bond E: A 4-year par-value bond with a face value of $100 and 7% coupon.

Bond F: A 4-year discount bond with a face value of $100 and 7% coupon.

If the yield curve shifts upwards by one percent,

a. Which bond among bonds A, B and C will experience the largest percentage price change? Which will have the lowest percentage price change?

b. Which bond of bonds C and D will experience a larger percentage price change?

c. Would you expect the difference in percentage price change to be bigger between bonds C and D or between bonds D and E?

d. Which bond of bonds E and F will experience a larger percentage price change?