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Consider a 15-year, eight percent coupon bond purchased at a yield-to- maturity of six percent. The day after the bond is purchased, interest rates rise

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Consider a 15-year, eight percent coupon bond purchased at a yield-to- maturity of six percent. The day after the bond is purchased, interest rates rise to ten percent. What is the annual return earned after holding this bond for six years? (As a tip, round any intermediate calculations to two decimals.) 2.5 percent 3.8 percent 3.5 percent 4.3 percent

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