Unlucky Louie is a cash manager who invests in relatively long-term bonds in an effort to earn extra interest on his firms working capital. There is a general rule in finance that when interest rates climb by 1 percent the price of zero coupon bonds falls by a percentage slightly smaller than their maturity. Verify that this is true by computing how much Unlucky would have lost as a percentage of the original purchase prices if he had bought one-half-year, 3-year, and 5-year zero coupon bonds($10,000) just before the interest rates rose from 8 percent to 9 percent. Round to two decimal places.

Unlucky would have lost = % for the one-half year bond

Unlucky would have lost = % for the three year bond

Unlucky would have lost = % for the five year bond