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you purchase 8 year bond at $474 per $1000 par value that pays a 7.7% coupon per annum. Further assume that bonds pay coupon wuarterly,
you purchase 8 year bond at $474 per $1000 par value that pays a 7.7% coupon per annum. Further assume that bonds pay coupon wuarterly, and coupons can be reinvested at 2.9% Quarterly for first 4 years. The yield to maturity of a 4 year of comparable bond after 4 years is 7.7%. if you hold the bond for 4 years, what will be your total return?
please write the answer in four decimal places.
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