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What rate of return would have earned for the past year

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Reference no: EM132659615

Problem Walk-Through

Problem 1: Last year Janet purchased a $1,000 face value corporate bond with an 8% annual coupon rate and a 20-year maturity. At the time of the purchase, it had an expected yield to maturity of 6.97%. If Janet sold the bond today for $1,160.21, 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: EM132659615

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