Question: Both Bond Sam and Bond Dave have 9 . 8 percent coupons, make semiannual payments, and are priced at par value. Bond Sam has 7

Both Bond Sam and Bond Dave have 9.8 percent coupons, make semiannual payments, and are priced at par value. Bond Sam has 7 years to maturity, whereas Bond Dave has 24 years to maturity. Both bonds have a par value of 1,000.
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 rates were to suddenly fall by 2 percent instead, what would be the percentage change in the price of these bonds?
Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.,32.16.
\table[[,Bond Sam,Bond Dave],[a. Percentage change in price,%,],[b. Percentage change in price,%,]]
 Both Bond Sam and Bond Dave have 9.8 percent coupons, make

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