Last year joan purchased $1,000 face value corporate Bond with 12% annual coupon rate and 10-year maturity.
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Question:
Last year joan purchased $1,000 face value corporate Bond with 12% annual coupon rate and 10-year maturity. At the time of the purchase, It had an an an expected yield to maturity of 9.79%. If joan sold the bond today for $1060.49. What rate of return would she have earned for the past year.
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