problem 6-24 interest rate risk (lo3) consider two bonds, a 3-year bond paying an annual coupon of 5% and a 10-year bond also with an annual coupon of 5%. both currently sell at a face value of $1,000. now suppose interest rates rise to 10%. what is the new price of the 3-year bonds? note: do not round intermediate calculations. round your answer to 2 decimal places. what is the new price of the 10-year bonds? note: do not round intermediate calculations. round your answer to 2 decimal places. which bonds are more sensitive to a change in interest rates? multiple choice long-term bonds short-term bonds
