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A 12-year bond pays five dollars coupons annually and has a $100 par value. What is the holding period yield over the next year (a)
A 12-year bond pays five dollars coupons annually and has a $100 par value. What is the holding period yield over the next year (a) if the yield to maturity remains at 4.5%, (b) if the yield to maturity declines by 1% at time 1, and (c) if the yield to maturity increases by 1% at time 1?
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