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If you were an investor in 10 years to maturity Carnival bonds at 11.5% and a year later the yield is 4%, what is the
If you were an investor in 10 years to maturity Carnival bonds at 11.5% and a year later the yield is 4%, what is the total return earned? Hint: First compute the duration of this bond. Assume the bonds were priced at par at issuance.
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