You own 2 bonds, each with a face value of $1000. These are namely a 4 year bond with a 5% p.a. annual coupon and a 5 year bond with a 5% p.a. semi-annual coupon. Current market yield is 6% p.a. 4 year bond with a 5% p.a. annual coupon 5 year bond with a 5% p.a. semi-annual coupon The following calculations have been done for you: PV of bond Sum of Time-Weighted PV of cash flows 3588.91 4 year bond with 5% p.a. annual coupon 965.35 5 year bond with 5% p.a. semi-annual 957.35 4279.35 coupon What is the change in price of the 4 year bond with 5% p.a. annual coupon if interest rates rise by 1%?