Instead of paying interest in the form of fixed coupon payments, some borrowers issue bonds with variable rate coupons. This means that the coupon interest payment are adjusted to match the current market interest rate at the time of the payment, rather than being permanently fixed at the time the bond is issued. Because the coupon rate always corresponds to the market rate, this implies a variable rate bond's price is always close to par value. The relative attractiveness of the fixed versus the variable rate structure depends on, among oth things, how potential investors view the interest rate risk carried by each. For each of the d below, indicate whether the traditional fixed rate bond or the variable rate bond presents more interest rate risk for that investor, and explain why this is the case. a. An investor seeking regular income (for example a retiree): b. An investor with a relative short horizon (for example someone planning to make a major purchase in one year)