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In a falling interest rate environment, which of the following bonds would be the most affected? a) A bond with a coupon rate of 12%

In a falling interest rate environment, which of the following bonds would be the most affected?

a) A bond with a coupon rate of 12% and term to maturity of eight years.

b) A bond with a coupon rate of 4% and term to maturity of nine years.

c) A bond with a coupon rate of 7% and term to maturity of five years.

d) A bond with a coupon rate of 9% and term to maturity of three years.

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