Let$$s evaluate two separate bonds. Both bonds have $6\mathrm{.}7\%$ semi$-$annual coupons and are priced at par value. Bond A has $3$ years to maturity while Bond B has $20$ years to maturity.

a$.$ What is the yield to maturity for both bonds?

b$.$ If interest rates increase by $2\%,$ what is the price of each bond?

c$.$ If interest rates decrease by $2\%,$ what is the price of each bond?

d$.$ Comment on the interest rate risk of these two bonds.