You recently invested in a bond that is paying a $$60$ coupon and will continue to do so until the bond matures. At maturity in $13$ years, the bond will be repaid at $$1,000.$ But interest rates just went from $9\%($when the bond was purchased$)$ to currently $10\%.$ What will happen to the value of your bond?

a$.$ The value of the bond decreases.

b$.$ Nothing happens to the value of the bond as it has already been purchased.

c$.$ There is not enough information to determine this because the only change is the interest rate.

d$.$ The value of the bond increases.