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What is the rate of return for an investor who pays $1,054.47 for a 5year bond with an annual coupon payment of 8.5% and sells
What is the rate of return for an investor who pays $1,054.47 for a 5year bond with an annual coupon payment of 8.5% and sells the bond 1 year later for $907.22?
please show me the formula and the work
thank you
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