When comparing long-term bonds to short-term bonds, which of the following statements about long-term bonds is not true?
1) Long-term bonds have a longer maturity period than short-term bonds.
2) Long-term bonds generally have higher interest rates than short-term bonds.
3) Long-term bonds are less affected by changes in interest rates compared to short-term bonds.
4) Long-term bonds have lower default risk compared to short-term bonds.
