Once a bond has been issued, if the holder of the bond retains it until maturity, which of the following is true assuming a bond is not callable and the issuer does not default:

Select one:

a.

the market value of the bond may change, but the cash flows will not.

b.

the cash flows associated with the bond may change, but the market value will not.

c.

both the market value of the bond and the cash flows may change.

d.

neither the market value of the bond or the cash flows will change.