1. The market rate of interest is 3.4% and remains constant over time. You just purchased a 9 year bond with a coupon rate of 6.7% (and face value of $1,000). a. Without resorting to calculations (if possible) describe what will happen to the price of the bond over time. b. Was the bond price above or below par? Why? c. What will the bond return at T=1 equal? d. Suppose that interest rates fall. What effect will this have on the bond price