Bond j is a 4 coupon bond bond k is a 12 coupon bond both, Ask an Expert

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Bond J is a 4% coupon bond. Bond K is a 12% coupon bond. Both bonds have 8 years to maturity, make semiannual payments and have a YTM of 7%. If interest rates suddenly rise by 2%, what is the percentage price change of these bonds? what if rates suddenly fall by 2% instead? what does this problem tell you aout the interest rate risk of lower coupon bonds?

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