As market interest rates rise, what happens to the prices of previously-issued bonds?

Name: As market interest rates rise, what happens to the prices of previously-issued bonds?
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Question

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When market interest rates rise, the newly issued bonds offer higher yields than the previously issued bonds. As a result, investors are less likely to purchase older bonds with lower yields, causing the demand for older bonds to decrease. The decrease in demand leads to a fall in the prices of previously-issued bonds.

As Market Interest Rates Rise, What Happens to the Prices