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A 15-year, 5 percent couppon bond has a yield to maturity of 3.8 percent. A portfolio manager will buy this bond and will hold it

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A 15-year, 5 percent couppon bond has a yield to maturity of 3.8 percent. A portfolio manager will buy this bond and will hold it ior 6 years and sell after 6 years. In 6 years, the yield to maturity on this bond is expected to be 4.1 percent. Calculate the estimated annualized return based on these predictions. 0.032890.03670.03480.0344

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