What is percentage price change of these bonds

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Bond J has a coupon rate of 5 percent and Bond K has a coupon rate of 11 percent. Both bonds have 18 years to maturity, make semiannual payments, and have a YTM of 8 percent. If interest rates suddenly rise by 2 percent, what is the percentage price change of these bonds? If the interest rate fall by 2 percent what is percentage price change of these bonds?

Reference no: EM131010466

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