A bond with a face value of $500,000 has a fixed coupon rate of 7% pa. Use the drop down lists to select the correct answer to each of the following questions.

a)If an investor purchases the bond at 7% then they would pay more than $500,000 / $500,000 / less than $500,000

b)If an investor purchases the bond at 7.5% then they would pay more than $500,000 / $500,000 / less than $500,000

c)If an investor purchases the bond at 6.5% then they would pay more than $500,000 / $500,000 / less than $500,000

options:

- more than $500,000

- $500,000

- less than $500,000.