3. Which of the following are generally true of all bonds?

A. The longer a bond's maturity, the lower is the rate of return that occurs as a result of the increase in the interest rate.

B. Even though a bond has a substantial initial interest rate, its return can turn out to be negative if interest rates rise.

C. Prices and returns for long-term bonds are more volatile than those for shorter-term bonds.

D. All of the above are true.