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Nellie Fox acquired at par a bond for $1,000 that offered a 9% coupon ralc. At the time of purchase, the bond had four years

Nellie Fox acquired at par a bond for $1,000 that offered a 9% coupon ralc. At the time of purchase, the bond had four years to maturity. Assuming annual interest payments, calculate Nellie's actual yield-10-maturity if all the interest payments were reinvested in an investment earning 15% per ycar. Whal would Nellie's aclual yieid-to-malurity be if all interest payments were spent immediately on receipt

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