Multiple Choice Question

Identify the bond with the highest level of interest rate risk:

Multiple choice question.

twenty$-$year bond issued by the US Treasury department with a coupon rate of $3\%$

thirteen$-$year bond issued by a small European government with a coupon rate of $3\mathrm{.}1\%$

fifteen$-$year bond with a double B rating and a $3\mathrm{.}8\%$ coupon rate issued by a large manufacturing firm