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The system does not accept -9.86%. Can you please solve it carefully. Problem 6-21 Rate of Return (L03) A bond is issued with a coupon
The system does not accept -9.86%. Can you please solve it carefully.
Problem 6-21 Rate of Return (L03) A bond is issued with a coupon of 6% paid annually, a maturity of 35 years, and a yield to maturity of 9%. What rate of return will be earned by an investor who purchases the bond for $683.00 and holds it for 1 year if the bond's yield to maturity at the end of the year is 10%? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Negative amount should be indicated by a minus sign.) Rate of return %Step by Step Solution
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