Question: Please explain in detail and type or write as neatly as possible. Thanks. 4. Bond J is a 3 percent coupon bond. Bond K is

Please explain in detail and type or write as neatly as

Please explain in detail and type or write as neatly as possible. Thanks.

4. Bond J is a 3 percent coupon bond. Bond K is a 9 percent coupon bond. Both bonds have fifteen years to maturity, make semiannual payments and have a YTM of 6 percent. (Do not round intermediate calculations. Negative answers should be indicated by a minus sign. Round the final answer to 2 decimal places.) a. If interest rates suddenly rise by 2 percent, what is the percentage price change of these bonds? b. What if rates suddenly fall by 2 percent instead

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