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5% An investor has two bonds in his portfolio that have a face value of $1,000 and pay an 8% annual coupon. Bond L. matures in 14 years, while Bands matures in 1 year 2. What will the value of the Bond be if the going interest rate is 5%, 6%, and 9%? Assume that only one more interest payment is to be made on Bond S at its maturity and that 14 more payments are to be made on Bond L. Round your answers to the nearest cent. 6% 99 Bond $ $ $ $ $ $ b. Why does the longer-term bond's price vary more than the price of the shorter-term bond when interest rates change? 1. The change in price due to a change in the required rate of return decreases as a bond's matunty increases. I. Long-term bonds have lower interest rate risk than do short-term bonds III. Long-term bonds have lower reinvestment rate risk than do short-term bonds, IV. The change in price due to a change in the required rate of return increases as a bond's maturity decreases V. Long-term bonds have greater interest rate risk than do short-term bonds. Bond S Select