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(Expected rate of return) Assume you own a bond with a market value of $1,025 that matures in 7 years. The par value of the

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(Expected rate of return) Assume you own a bond with a market value of $1,025 that matures in 7 years. The par value of the bond is $1,000. Interest payments of $55 are paid semiannually. What is your expected rate of return on the bond? Your expected rate of return on the bond is %. (Round to two decimal places.)

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