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An investor purchases a $1,000 face value bond with 8 years to maturity for a price of $1,168.91. The bond pays coupons every 6-months at
An investor purchases a $1,000 face value bond with 8 years to maturity for a price of $1,168.91. The bond pays coupons every 6-months at a rate of 12% APR compounded semi-annually. Exactly 3 years later the investor received his 6th coupon payment and he simultaneously sold the bond for $1,023.00. What was the investor's realized yield (APR) over the 3-years that he held the bond?
A) 3.21%
B) 6.43%
C) -12.48%
D) -6.24%
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