Question: Please help solve. I got this question wrong by selecting the last option. Which is the correct answer? Ten years ago, John Doe bought a

Please help solve. I got this question wrong by selecting the last option. Which is the correct answer?

Ten years ago, John Doe bought a corporate bond for $955. Today, he can sell this bond for $1,015. What must have happened with the market interest rate over time? Today's market rate is lower than the rate when he purchased this bond Today's market rate must have gone up since he bought this band, but today's market rate is still below the coupon rate of this bond The market rate must have stayed constant None are correct Today's market rate is higher than the rate when he purchased this bond

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