I'm looking for a timeline and answer

7-5. An investor has two bonds in his portfolio that have a face value of $1,000 and pay an 11% annual coupon. Bond L matures in 12 years, while Bond S matures in 1 year. What will the value of each bond be if the going interest rate is 6%,8%, and 12% ? Assume that only one more interest payment is to be made on Bond S at its maturity and that 12 more payments are to be made on Bond L. Why does the longer-term bond's price vary more than the price of the shorter-term bond when interest rates change