1. Which of the following statements is MOST FALSE about bond prices?

   		Bond prices approach par as the bond approaches maturity
   		Bond prices increase when interest rates decrease and vice versa
   		The percentage change in price is always lower for a shorter maturity bond for a given change in interest rates
   		The percentage change in price is always higher for a higher coupon bond for a given change in interest rates
   		The percentage change in price is always lower in absolute value when rates go up than when rates go down