12. Price risk and reinvestment rate risk Which of the following statements are true? Check all that apply. To minimize interest rate risk, an investor should buy long-term bonds. A decline in interest rates will lead to a decline in the price of an outstanding bond. Rising interest rates cause the value of outstanding bonds to decrease. Bonds with similar coupons will always have the same percentage price change, no matter the maturity. Which category of investor will experience the highest reinvestment rate risk? 25-year-old individual investor Retirement-age individual investor College endowment fund Pension fund