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Interest Rate Risk [ LO 2 ] Bond J has a coupon rate of 3 percent. Bond K has a coupon rate of 9 percent.

Interest Rate Risk [LO2] Bond J has a coupon rate of 3 percent. Bond K has a coupon rate of 9 percent. Both bonds have 18 years to maturity, make semiannual payments, and have a YTM of 6 percent. If interest rates suddenly rise by 2 percent, what is the percentage price change of these bonds? What if rates suddenly fall by 2 percent instead? What does this problem tell you about the interest rate risk of lower-coupon bonds? [Please answer in excel format. Thank you]
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