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If you purchase a $ 1 , 0 0 0 face value, 4 % annual coupon bond with 6 years to maturity when the going

If you purchase a $1,000 face value, 4% annual coupon bond with 6 years to maturity when the going interest rate (or yield) is 3%, then you would pay $1,054.17 for the bond. What is your expected rate of return on the bond assuming interest rates do not change and you hold the bond to maturity?Enter your answer as a percentage rounded to two decimals. In other words, if your answer is 3.39%, enter 3.39

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