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Both Bond Short and Bond Long have 7 percent coupons, make semiannual payments, and are priced...

Both Bond Short and Bond Long have 7 percent coupons, make semiannual payments, and are priced at par value. Bond Short has 3 years to maturity, whereas Bond Long has 20 years to maturity. Requirement 1: If interest rates suddenly rise by 2 percent, what is the percentage change in the price of these bonds? (Do not round intermediate calculations. Negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places (e.g., 32.16).) Percentage change in price Bond Short % Bond Long % Requirement 2: If rates were to suddenly fall by 2 percent instead, what would be the percentage change in the price of these bonds? (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).) Percentage change in price Bond Short % Bond Long %

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