Define the bond returns, Last year Janet purchased a $1,000

Define the bond returns

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Bond returns

Last year Janet purchased a $1,000 face value corporate bond with an 11% annual coupon rate and a 15-year maturity. At the time of the purchase, it had an expected yield to maturity of 10.5%. If Janet sold the bond today for $1,077.28, what rate of return would she have earned for the past year? Do not round intermediate calculations. Round your answer to two decimal places.

Reference no: EM131584682

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