Question: Item6 eBook Hint Check my work Check My Work button is now enabledItem 6 Item 6 Bond J has a coupon rate of 7 percent

Item6 eBook Hint Check my work Check My Work button is now enabledItem 6 Item 6 Bond J has a coupon rate of 7 percent and Bond K has a coupon rate of 13 percent. Both bonds have 20 years to maturity, make semiannual payments, and have a YTM of 10 percent.

a. If interest rates suddenly rise by 2 percent, what is the percentage price change of these bonds? (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. What if rates suddenly fall by 2 percent instead?

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