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Thank you! Last year Janet purchased a $1,000 face value corporate bond with a 7% annual coupon rate and a 25-year maturity. At the time
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Last year Janet purchased a $1,000 face value corporate bond with a 7% annual coupon rate and a 25-year maturity. At the time of the purchase, it had an expected yield to maturity of 6.68%. If Janet sold the bond today for $1,091.45, what rate of return would she have earned for the past year? Do not round intermediate calculations. Round your answer to two decimal places. 18.5 Hide Feedback IncorrectStep by Step Solution
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