You own A T & T bonds. What is your relationship to A T & T? You want to check the original agreement to see when interest payments are made What is this agreement called? Assuming you paid the usual face value for your bonds, what did you likely pay for them? You are comparing several bond investments. IBM has mortgage bonds, A T & T has debenture bonds, and Microsoft has subordinated debentures. Which of these would likely pay the highest interest? Why? All things being equal, which of these is the least risky?