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suppose an investor has a 5 year investment horizon. He purchased an 8 year paying an 8% annual coupon rate while the bond's initial annual

suppose an investor has a 5 year investment horizon. He purchased an 8 year paying an 8% annual coupon rate while the bond's initial annual yield to maturity is 6%. The bond makes coupon payments semi-annually. The investor expects that he can reinvest the coupon at an annual interest rate of 7%. At the beginning of year 6, he expects the then yield to maturity to be 7% what is the total return for this bond

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