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Susan bought a bond with $1000 par value when it has 8 years left until maturity at a price of $940. This bond pays a
Susan bought a bond with $1000 par value when it has 8 years left until maturity at a price of $940. This bond pays a 6% annual coupon. Three years later, Susan sold this bond at price of $1020. Calculate the rate of return she earned on this bond over her 3 year investment period.
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