Assume that three years ago, you purchased a $$1,000$ corporate bond that pays $3\mathrm{.}93$ percent. Also assume that three years after you bond investment, comparable bonds are paying $4\mathrm{.}58$ percent.

a$.$ What is the annual dollar amount of interest that you receive from your bond investment?

b$.$ Assuming that comparable bonds are now paying $4\mathrm{.}58$ percent, will your bond increase or decrease in value?

c$.$ Why did the bond increase or decrease in value?

Complete this question by entering your answers in the tabs below.

What is the annual dollar amount of interest that you receive from your bond investment?

Note: Round your final answer to $2$ decimal places.

Annual interest