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You just purchased a regular bond. You paid $905 for the bond. The bond has a face value of $1,000. The makes annual coupon payments.
You just purchased a regular bond. You paid $905 for the bond. The bond has a face value of $1,000. The makes annual coupon payments. Its coupon rate was 9.3%. When you purchased the bond, it had a yield to maturity of 5.8%. What was the expected change in the bond's price during the first year that you owned it. Your answer is to be given as a percentage and it should be accurate to two decimal places.
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