Suppose that you are considering investing in a $4-$year bond that has a face value of $$1,000$ and a coupon rate of $5\mathrm{.}9\%.$

a$.)$ If the market interest rate on similar bonds is $5\mathrm{.}9\%,$ the price of the bond is $$1000.($Round your response to the nearest cent.$)$

The bond's current yield is $5\mathrm{.}9\%.($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 $4\mathrm{.}9\%.$

The price of the bond will be $ $-($Round your response to the nearest cent.$)$

The current yield will be $\%.($Round your response to two decimal places.$)$

c$.)$ Now suppose that $1$ year has gone by since you bought the bond, and you have received the first coupon payment. The market interest rate on similar bonds is still $4\mathrm{.}9\%.$

At an interest rate of $4\mathrm{.}9\%,$ the price an investor is willing to pay fct the bond is $ $($Round your response to the nearest cent.$)$