Bond Valuation and Interest Rate Risk The Garraty Company hastwo bond issues outstanding. Both bonds pay $100 annual interestplus $1,000 at maturity. Bond L has a maturity of 15 years, andBond S ha a. Bond L: \( \$ \) Bond 5: \( \$ \) Bond L: \( \$ \) Bond S: \( \$ \) Bond L: \( \$ \) Bond 5: \( \$ \) b. Why does the longer-term (15-year) bond fluctuate more when interest rates change than does 2 answers