a$.$Which will have the higher price$($as a percentage of the face$$ value$),$ a$$ three$-$year zero$-$coupon bond or a$$ five$-$year zero$-$coupon$$ bond?

A$.$

A$3-$year, because the present value is received$$ sooner, the future value is higher.

B$.$

A$5-$year, because the future value is received$$ later, the present value is higher.

C$.$

A$3-$year, because the future value is received$$ sooner, the present value is higher.

D$.$

A$5-$year, because the present value is received$$ sooner, the future value is higher.