31. A bond is traded at 98.5 means that: a. The bond pays 98.5% interest b. The bond trades at $985 per $1,000 bond c. The market rate of interest is below the contract rate of interest for the bond d. The bond's interest rate is 1.5% 2. An investor who owns a $1,000, 6%, 15-year (term) bond has: a. The right to receive $1,000 at maturity b. Ownership rights in the bond-issuing company c. The right to receive $600 at maturity d. No rights to any future payments