What rate of return would she have earned for past year

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Reference no: EM131881930

Last year, Jean purchased a $1,000 face value corporate bond with an 11.7 percent annual coupon rate and a 14-year maturity. At the time of the purchase, it had an expected yield to maturity of 8.8 percent. If Jean sold the bond today for $1,237.78, what rate of return would she have earned for the past year?

Reference no: EM131881930

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