What is your annual rate of return for the three year period

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Three years ago, you bought a 12% bond that had 7 years to maturity and a yield to maturity of 12%. Today (after the sixth interest payment), you sold the bond when it is yielding 15%. What is your annual rate of return for the three year period? All coupon payments are semi-annual, and the par value is $1,000.

Reference no: EM13953721

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