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You purchased a bond exactly one year ago and you're going to sell it today. The bond has 3% annual coupons and a face value
You purchased a bond exactly one year ago and you're going to sell it today. The bond has 3% annual coupons and a face value of $1,000. When you bought the bond, it had 2 years left until maturity and a yield to maturity of 7.48%. You just collected one coupon payment, and the bond now has 1 year left until maturity, but the bond's yield to maturity has decreased to 3.55%. What is the rate of return on your investment in this bond? (answer in PERCENT, but without the percent sign, e.g. "5.24" is 5.24%)
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