Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Transcribed Image Text:Bond J has a coupon of 5.6 percent. Bond K has a coupon of 9.6 percent. Both bonds have 15 years to maturity and have a YTM of
5.9 percent.
a. If interest rates suddenly rise by 2 percent, what is the percentage price change of these bonds? (A negative value should be
indicated by a minus sign. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal
places.)
Answer is complete but not entirely correct.
%A in Price
Bond J
Bond K
-18.78 %
-15.81 %
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