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You buy a 5 % semi - annual coupon bond that has a 7 year maturity and yield to maturity of 6 . 2 3

You buy a

5 %

semi

-

annual coupon bond that has a

7

year maturity and yield to maturity of

6.23 % .

The par value is

1, 000 .

You sell the bond

3

years later when the required return is

8 % .

What is your holding period

return?

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