Select the correct answer to each of the following statements.

A. Increase B. Decrease C. Remain Constant

1. The amount of interest expense will _______ each payment period for a bond issued at a discount.

2. When a bond is issued at a discount, the cash interest payment will _________ over the life of the bond.

3. When a bond is issued at a premium, the carrying value of the bond will _______ over the life of the bond.