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H. Azusa Pizza company has a 7-year, 9% annual coupon bond with a $1,000 par value. Glendora Pizza has a 14-year, 9% annual coupon bond

H. Azusa Pizza company has a 7-year, 9% annual coupon bond with a $1,000 par value. Glendora Pizza has a 14-year, 9% annual coupon bond with a $1,000 par value. Both bonds currently have a yield to maturity of 7%.

If the market interest rate increases to 7.5%, what will happen to the bond prices?

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