A bond that is held to maturity

Select one:

a. will necessarily earn the yield to maturity at the time of purchase.

b. will earn the yield to maturity at the date of maturity.

c. may earn more or less that its yield to maturity at the time of purchase because the rate at which coupons can be reinvested may change.

d. will necessarily have a yield to maturity equal to the coupon rate.