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Which of the following bonds has the highest interest rate risk? A. A 10-year zero-coupon bond. B. A 5-year zero-coupon bond. C. A 10-year bond

Which of the following bonds has the highest interest rate risk?

A. A 10-year zero-coupon bond.
B. A 5-year zero-coupon bond.

C. A 10-year bond with a 10 percent annual coupon.

D. A 5-year bond with 12 percent annual coupon.

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