Easy finance questions. Please show your work so I understand how you arrived at your answer and if its easier to respond in word doc feel free to do so. Thanks!!

19. Why are long-term bonds more sensitive to changes in interest rates than short-term bonds?

20. What is meant by "default risk" in bonds, and how do investors respond to it?

21. Why do investors pay attention to bond ratings and demand a higher interest rate for bonds with low ratings?

22. A stock offers an expected dividend of $3.50, has a required return of 14 percent, and has historically exhibited a growth rate of 6 percent. Its current price is $35.00 and shows no tendency to change. How can you explain this price based on the constant growth dividend discount model?