You purchased a 35-year annual-interest coupon bond 2 year ago. Its coupon interest rate was 9.5%, and
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Question:
You purchased a 35-year annual-interest coupon bond 2 year ago. Its coupon interest rate was 9.5%, and its par value was $1000. At the time you purchased the bond, the yield to maturity was 5%. If you sold the bond after receiving the first interest payment and the bond's yield to maturity had changed to 4.5%, your annual total rate of return on holding the bond for that year would have been approximately _________.
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