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Consider a 3-year bond with a par value of $1,000 and an 10% annual coupon. If interest rates change from 10% to 6% the bond's

Consider a 3-year bond with a par value of $1,000 and an 10% annual coupon. If interest rates change from 10% to 6% the bond's price will

What is the rate of return for an investor who pays $1,033.64 for a 3-year bond with an annual coupon payment of 6.5% and sells the bond 1 year later for $1,037.19?

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