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value of $ 1 , 0 0 0 , and a YTM of 1 2 . 2 percent, and both make semiannual payments. a .

value of $1,000, and a YTM of 12.2 percent, and both make semiannual payments.
a. If interest rates suddenly rise by 2 percent, what is the percentage change in the price of these bonds?
Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g.,32.16.
b. If interest rates suddenly fall by 2 percent instead, what is the percentage change in the price of these bonds?
Note: Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g.,32.16.
\table[[,Bond J,Bond K],[a. Percentage change in price,,%
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