Robert recently purchased a bond for $1350. The bond has a par value of $1000 and a coupon rate of 4.00%. Based on this
information, you know that Robert's current effective interest rate earned on the bond is
and when the bond matures
he will receive
O 4.00%; $1000.
O 2.96%; nothing.
O 2.96%; $1000.
O 4.00%; $1350.