Consider the following bonds. Bond A B с Maturity (years) 10 15 15 10 Which of the bonds A to D is most sensitive to a 1% drop in interest rates

from 6.6% to 5.6% ? Which bond is least sensitive? Provide an intuitive explanation for your answer. Bond is most sensitive. (Select from the drop-down menu.) A Coupon Rate (annual payments) 0.0% 0.0% 4.4% 8.2% B D