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Bill purchased a 20 year 1,000 par value bond for 1,200. He sold the bond for 745 after 10 years. The bond paid annual coupons
Bill purchased a 20 year 1,000 par value bond for 1,200. He sold the bond for 745 after 10 years. The bond paid annual coupons of 7%. The yield for bonds on similar risk and maturity bonds is 4.0%. What was the total return received on the bond?
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