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Last year, William purchased a 7% fixed coupon $1,000 par callable bond with a maturity of 8 years for $1,030 which provided him with
Last year, William purchased a 7% fixed coupon $1,000 par callable bond with a maturity of 8 years for $1,030 which provided him with a yield of 6.5%. The bond was just called at par. What is William's return on this investment?
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Investments
Authors: Zvi Bodie, Alex Kane, Alan J. Marcus
9th Edition
73530700, 978-0073530703
