Which the following bonds price would be more sensitive to an unexpected change in the

interest rate? (The market interest rate is 4% (EAR) for all the bonds below.)

A) a discount ( or zero coupon) bond with 5 years of maturity

B) a discount ( or zero coupon) bond with 7 years of maturity

C) a bond with annual coupons , a 3% coupon rate and 5 years to maturity

D) a bond with semi-annual coupons , a 5% coupon rate and 5 years to maturity

E) a bond with annual coupons , a 5% coupon rate and 5 years to maturity