You purchased an annual interest coupon bond one year ago, Financial Management

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You purchased an annual interest coupon bond one year ago

You purchased an annual interest coupon bond one year ago with five years remaining to maturity at the time of purchase. The coupon interest rate is 10% and par value is $1,000. At the time you purchased the bond, the yield to maturity was 8%. If you sold the bond after receiving the first interest payment and the bond's yield to maturity had changed to 7%, how much would have been your annual total rate of return on holding the bond for that year?

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Financial Management: You purchased an annual interest coupon bond one year ago

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