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Example: You buy a 1 0 - year maturity bond for the face value of $ 1 , 0 0 0 when the current interest

Example:
You buy a 10-year maturity bond for the face value of
$1,000 when the current interest rate is 9%. A year
later, you sell the bond for $980. Assuming annual
coupon payment,
a. What is the new yield to maturity on the bond when
you sell the bond?
b. What's your holding period return during the year?
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