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Required: You buy a six-year maturity bond that has a 4.50% current yield and a 4.50% coupon (paid annually). In one year, promised yields

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Required: You buy a six-year maturity bond that has a 4.50% current yield and a 4.50% coupon (paid annually). In one year, promised yields to maturity have risen to 5.50%. What is your holding- period return? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Holding-period return (16.61) %

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