What rate of return would she have earned for the past year

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Reference no: EM13722157

Last year, Joan purchased a $1,000 face value corporate bond with an 8% annual coupon rate and a 15-year maturity. At the time of the purchase, it had an expected yield to maturity of 10.9%. If Joan sold the bond today for $1,033.23, what rate of return would she have earned for the past year? Round your answer to two decimal places.

Reference no: EM13722157

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