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QUESTION 14 You purchased a 35-year annual interest coupon bond 2 year ago. Its coupon Interest rate was 9.5%, and its par value was $1000.

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QUESTION 14 "You purchased a 35-year annual interest coupon bond 2 year ago. Its coupon Interest rate was 9.5%, and its par value was $1000. At the time you purchased the bond, the yield to maturity was 5%. If you sold the band after receiving the first interest payment and the bond's yield to maturity had changed to 4.5%, your annual total rate of return on holding the band for that year would have been approximately

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