Problem 6-20 Interest Rate Risk [LO 2] Bond J has a coupon rate of 4.1 percent. Bond K has a coupon rate of 14.1 percent. Both bonds have nine years to maturity, a par value of $1,000, and a YTM of 9.2 percent, and both make semiannual payments. a. If interest rates suddenly rise by 3 percent, what is the percentage change in the price 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. If interest rates suddenly fall by 3 percent instead, what is the percentage change in the price of these bonds? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Bond J Bond K a. Percentage change in price b. Percentage change in price % % % %