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Suppose that you just bought a four-year $1 000 coupon bond with a coupon rate of 6.9% when the market interest rate is 6.9%. One

Suppose that you just bought a four-year $1 000 coupon bond with a coupon rate of 6.9% when the market interest rate is 6.9%. One year later, the market interest rate falls to 4.9%.

The rate of return earned on the bond during the year was

the ans is 12.36%, can yo please show me the formla how it is arrived at

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