Calculate the total return on this investment

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Reference no: EM131581647

Suppose you purchased 55 bonds, one year ago today for $955 each, and you sold each bond today for $962.50. The bond paid an annual coupon of 4% and each bond has a face value of $1,000. Calculate the total return (in percentages) on this investment. (Enter percentages as decimals and round to 4 decimals)

Reference no: EM131581647

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