a. round intermediate calculations. Round your answers to the nearest cent. Bond L: $ Bond 5:5 round intermediate calculations. Round your answers to the nearest cent. Bond L: $ Bond 5 : 5 round intermediate calculations. Round your answers to the nearest cent. Bond L: $ Bond 5:S b. Why does the longer-term (15-year) bond fluctuate more when interest rates change than does the shorter-term bond (1 year)? I. Longer-term bonds have more interest rate risk than shorter-term bonds. II. Longer-term bonds have less interest rate risk than shorter-term bonds. III. Longer-term bonds have less reinvestment rate risk than shorter-term bonds