Interest rates generally reflect

a. the potential effects of inflation.
b. the level of risk in an investment.
c. the real value of the investment.
d. the amount of money invested.

Interest rates generally reflect: B. the level of risk in an investment.

As the interest rates rise, the price of a bond will fall because the opportunity cost of holding that bond will decrease. 
This happens because most investors tend to attracted to other investment that reflect the higher interest rates.