4. Calculate Griffin recently purchased a bond for $1,100. The bond has a par value of $1,000 and a coupon rate of 5%. Based on this information, you know that Griffin's current effective interest rate earned on the bond is ; when the bond matures, he will receive a. 4.55%; nothing b. 5.00%; $1,000 c. 4.55%; $1,000 d. 5.00%; $1,100