Ames purchased a 6% corporate note that matured in 5 years and paid interest semiannually. He paid $2,400 and six months later, immediately after an...

a) What was Ames selling price?

           b) What was Ames return (dollar amount) for the six months?

           c) What does this make the rate return on an annual basis?

           d) Explain whether this was a good investment decision and why it was or wasn't (hint: use the direction of

                  interest rate movements to help explain your answer.