Bryan purchased a 6% corporate note that matured in 5 years and paid interest semiannually. He paid $2,400 and six months later, immediately after an interest payment, he sold the note. At the time he sold the bond, the market interest rate on a bond of this type was 4.5%. Determine:

a) What was Bryan's selling price?

b) What was Bryan's return (dollar amount) for the six months?

c) What does this make the rate return on an annual basis?

d) Explain whether this was a good investment decision and why it was or wasn't (hint: use the direction of interest rate movements to help explain your answer.