3. Investment companies attempt to explain to investors the nature of the risk the investor incurs when buying shares in their mutual funds. For example, go to https://personal.vanguard.com/us/ funds/vanguard/all?sort=name&sortorder=asc.

a. Select the bond fund you would recommend to an investor who has a very low tolerance for risk. Justify your answer. b. Select the bond fund you would recommend to an investor who has a higher tolerance for risk and a long investment horizon. Justify your answer.