Problem 7-20 Interest Rate Risk [LO2] Bond J has a coupon rate of 3 percent and Bond K has a coupon rate of 9 percent. Both bonds have 16 years to maturity, make semiannual payments, and have a YTM of 6 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? (Do not round Intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) a. Bond J 96 % b. Bond K Bond J Bond K 96 %6