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You purchased a 10-year semi-annual interest coupon bond one year ago. Its coupon rate was 6% and its par value was $1,000. At the time
You purchased a 10-year semi-annual interest coupon bond one year ago. Its coupon rate was 6% and its par value was $1,000. At the time you purchased the bond, the yield to maturity was 5%. If you sold the bond after one year and the bond's yield to maturity had changed to 4% after one year, your annual total rate of return on holding the bond for that year would have been
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