Assume that three years ago, you purchased a $10-$year corporate bond that pays $11\mathrm{.}5$ percent. The purchase price was $$1,000.$ assume that today comparable bonds are paying $10\mathrm{.}5$ percent.

a$)$ What is the annual dollar amount of interest that you receive from your bond investment? $($Omit the $"$$$"$ sign in your respon

Amount of interest

$

b$)$ Assuming that comparable bonds are paying $10\mathrm{.}5$ percent, what is the approximate market price for which you could sell y $($Round your answer to $2$ decimal places. Omit the $"$$$"$ sign in your response.$)$

Market price

$

c$-1)$ Did the bond increase or decrease in value?

Increased in value.

Decreased in value.

c$-2)$ Why did the bond increase or decrease in value?

Because market rates decreased.

Because market rates increased.