Which one of the following statements is true?

a$.$

Short$-$term bonds have more price volatility than long$-$term bonds of similar risk.

b$.$

The risk that the lender receive payments as promised is called default risk.

c$.$

Higher coupon bonds have more price volatility than lower coupon bonds of similar risk.

d$.$

Interest rate changes and bond prices are inversely related.

e$.$

Investors require lower return for the bonds with higher default risk.