Interest Rate Risk
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Both Bond Sam and Bond Dave have 8 percent coupons, make semiannual payments, and are priced at par value. Bond Sam has 5 years to maturity, wheareas Bond Dave has 12 years to maturity. If interest rates suddenly rise by 2 percent, the percentage change in the price of Bonds Sam and Dave is____ percent and ____ percent, respectively. (Input answers as a percent rounded to 2 decimal places, without the percent sign.)
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