You buy an 54 coupon 7-year maturity bond for 946 a year, Finance Basics

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You buy an 54 coupon 7-year maturity bond for 946 a year

Question: You buy a(n) 5.4% coupon, 7-year maturity bond for $946. A year later, the bond price is $1,056.

a. What is the new yield to maturity on the bond? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

b. What is your rate of return over the year? (Round your answer to 2 decimal places.)

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Finance Basics: You buy an 54 coupon 7-year maturity bond for 946 a year

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Finance Basics: You buy an 54 coupon 7-year maturity bond for 946 a year

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