Determine the rate of return on a bond

Reference no: EM1355001

What is the rate of return on a bond that pays a coupon rate of 9%, has a par value of $1,000, matures in five years and is currently selling for $714? (Round to the nearest whole % and assume annual coupon payments)
a. 18% b. 13% c. 16% d. 17%

Reference no: EM1355001

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