This statement is true. The present value of a long-term note or bond is a function of two variables. The present value of a long-term note or bond is a function of the face value of the note or bond, and the rate of interest that the note or bond pays.
The face value of the note or bond is the amount of money that will be paid to the holder when the note or bond matures. The rate of interest is the annual percentage rate that the note or bond pays to the holder. The present value of a long-term note or bond is the amount of money that the holder would receive if they were to invest the face value of the note or bond today at the current rate of interest. The higher the rate of interest, the higher the present value of the note or bond.
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