The best time for an investor seeking returns to purchase long-term, fixed-interest-rate bonds is when:
A) short-term interest rates are low and beginning to rise.
B) long-term interest rates are low and beginning to rise.
C) long-term interest rates are high and beginning to decline.
D) short-term interest rates are high and beginning to decline.
Answer: C) long-term interest rates are high and beginning to decline.