A six year gov. bond makes annual coupon payments of 5% and offers a yield of 3% annually compounded.

a. suppose that one year later the bond still yields 3%. what return has the bondholder earned over the 12 month period.

b. suppose the bond yields 2% at the end of the year. what return would the bondholder earn in this case?

do not round intermediate calculations. round your answers to 2 decimal places.

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