Which of the following is Correct? (E) The time to maturity does not affect the change in the value of a bond in response to a given change in interest rates. '31. Junk bonds are high-risk, high-yield debt instruments. There is a positive relationship between bonds' quality ratings and their required rates of return. Thus, the required return is lowest for AAA-rated bonds, and required returns decrease as the ratings get lower. '3; Income bonds pay interest only if the issuing company actually earns the indicated interest. Thus, these securities cannot bankrupt a company, and this makes them safer from an investor's perspective than regular bonds