8. Which of the following statements are most correct?

a. Long-term bonds have more interest rate price risk, but less reinvestment rate risk than short-term bonds.

b. Bonds with higher coupons have more interest rate price risk, but less reinvestment rate risk than bonds with lower coupons.

c. If interest rates remain constant for the next five years, the price of a discount bond will remain the same for the next five years.

d. If a bond is selling at par value, its current yield equals its yield to maturity.

e. If a bond is selling at a discount to par, its current yield will be less than its yield to maturity.

f. All else equal, bonds with longer maturities have more interest rate (price) risk than do bonds with shorter maturities.