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7. On 1 April 2017, the investor will purchase UPM's ten bonds with a nominal value of 10,000, an issue date of 1 March

7. On 1 April 2017, the investor will purchase UPM's ten bonds with a nominal value of 10,000, an issue date of 1 March 2014, an interest rate of 6.5% and a maturity of 10 years. How much does an investor pay for a bond when the issue price is 103%? Calculate the total return for the investor over the term of the loan. Taxes do not need to be taken into account.

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