aving, Investment, and the Financial System $-$ Work It Out: Question $3$ of $4$

Yield $=\frac{\text{I}\text{n}\text{t}\text{e}\text{r}\text{e}\text{s}\text{t}\text{P}\text{a}\text{y}\text{m}\text{e}\text{n}\text{t}}{\text{P}\text{r}\text{i}\text{c}\text{e}of\text{B}\text{o}\text{n}\text{d}}$

Now suppose that one purchases a new $$1,000$ perpetuity bond at the lower interest rate presented in the previous question.