The nominal rate of return is

%

earned by an investor in a bond that was purchased for

$945

, has an annual coupon of

7%

, and was sold at the end of the year for

$1024

? Assume the face value of the bond is

$1,000

.

The nominal rate of return is % earned by an investor in a bond that was purchased for $945, has an annual coupon of 7%, and was sold at the end of the vear for $1024 ? Assume the face value of the bond is $1,000