What rate of return did the investor make per quarter

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A savvy investor paid $8000 for a 20 year $10000 mortgage bond that had a bond interest rate of 4% per year payable quarterly. three years after he purchased the bond, market interest rates went down, so the bond increased in value. If the investor sold the bond for $11,000 three years after he bought it, what rate of return did the investor make per quarter and per year (nominal)?

Reference no: EM133130210

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