Seven years ago, Embraer issued a semi-annual coupon bond with 12 years to maturity. The bond was originally issued at par with a

51,000 face value. The coupon rate on the bond is 6% and the yield to maturity is currently 7% (for all maturities). Assume an investor

bought the bond when it was issued seven years agg and sells the bond today. What would be the investors capital gain or loss (in %) for

the complete investing period?

Note, to answer this question you can ignore past received coupon payments. (Note: please retain at least 4 decimal places in your

calculations and at least 2 decimal places in the final answer.)

The 7-year capital gain or loss in percentage terms is