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Please show work. 3 years ago you purchased a 12 year maturity, 3.4% coupon annual pay bond at a price of $99 per $100 of
Please show work.
3 years ago you purchased a 12 year maturity, 3.4% coupon annual pay bond at a price of $99 per $100 of face value. Shortly after you purchased the bond, yields changed to 7.68%. If you sell the bond today at a price of $106 per $100 of face value, what is your annualized holding period returnStep by Step Solution
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