The nominal rate of return is

%

earned by an investor in a bond that was purchased for

$902

, has an annual coupon of

4%

, and was sold at the end of the year for

$1016

? 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 $902, has an annual coupon of 4%, and was sold at the end of the year for $1016 ? Assume the face value of the bond is $1,000