Zlatan borrows an amount at an annual effective interest rate of 10% and will repay all interest and principal in a lump sum at the end of 5 years. He uses the amount borrowed to purchase a 1000 par value 5-year bond with 12% semi-annual coupons bought to yield 9% convertible semi-annually. All of the coupon payments are reinvested at a nominal rate of 7% convertible semi-annually. Calculate the net gain (or loss) to the investor at the end of the 5 years after the loans is repaid.