Suppose that you are considering investing in a $4-$year bond that has a face value of $$1,000$ and a coupon rate of $5\mathrm{.}7\%.$

a$.)$ If the market interest rate on similar bonds is $5\mathrm{.}7\%,$ the price of the bond is $$1000.($Round your response to the nearest cent.$)$

The bond's current yield is

$\%.($Round your response to two decimal places.$)$

b$.)$ Suppose that you purchase the bond, and the next day the market interest rate on similar bonds falls to $4\mathrm{.}7\%.$

The price of the bond will be $

$.($Round your response to the nearest cent.$)$

The current yield will be $5\mathrm{.}50\%.($Round your response to two decimal places.$)$

At an interest rate of $4\mathrm{.}7\%,$ the price an investor is willing to pay for the bond is $

$.($Round your response to the nearest cent.$)$

Your rate of return on the bond was

$\%.($Round your response to two decimal places.$)$

rises to $9\%.$

At an interest rate of $9\%,$ the price an investor is willing to pay for the bond is $$941\mathrm{.}95.($Round your response to the nearest cent.$)$

The current yield for your investment is

$\%.($Round your response to two decimal places.$)$