Bond Interest and Bond Pricing

Text P$68$ and P$71$

Assume that three years ago, Samiya purchased a $10-$year corporate bond that pays $9\mathrm{.}5\%.$ The purchase price was $$1,000.$

Also, assume that today the comparable bonds are paying $8\%.$

a$)$ What is the annual dollar amount of interest that Samiya would receive from her bond investment?

Interest Income $=2\mathrm{.}0$

b$)$ Assuming that comparable bonds are paying $8\%,$ what is the approximate market price for which she could sell her bond?