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A 18-year, $1000 face value bond makes annual payments and has a coupon rate of 11.6 percent. If the current yield on the bond is

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A 18-year, $1000 face value bond makes annual payments and has a coupon rate of 11.6 percent. If the current yield on the bond is 12 percent, what is the bond's price? 966.67 Correct response: 966.67+0.01 Suppose that a year from now the bond sells at a yield to maturity of 11.4 percent. What is the price of the bond? Enter your answer rounded to two decimal places. 104.13 Correct response: 1,014.74+2 What is your rate of return if you purchase the bond for $966.67, hold it for a year, and then sell it for $1,014.74? Enter your answer as percentage rounded to 2 decimal places. Do not enter the percentage sign. 4.97 Correct response: 16.97+0.01

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