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You purchased a zero - coupon bond one year ago for $ 2 7 9 . 8 3 . The market interest rate is now

You purchased a zero

-

coupon bond one year ago for $

279.83 .

The market interest rate is now

9

percent. Assume semiannual compounding. If the bond had

15

years to maturity when you originally purchased it

,

what was your total return for the past year?

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