Consider the following Pair of Bonds and identify which one within each pair will pay a higher interest rate

Bond Pair Bond $1$ Bond $2$

Pair $13-$month Treasury bill $5-$year Treasury bill

Pair $2$ A $5-$year bond issued by a "AAA credit$-$rated" Company A $5-$year bond issued by a $"$BBB$-$credit rated" Company

Pair $3$ A $3-$month Treasury security bill issued by the Federal Government A $3-$month Municipal Bond issued by the State of Texas