Your client is considering the purchase of a bond that is currently selling for $$671\mathrm{.}30.$  The client wants to know what annual rate of return can they expect to earn on the bond ?The bond has $10$ years to maturity, pays a coupon rate of $5\mathrm{.}3\%($payments made semi$-$annually$),$ and a face value of $$1000.($Round to $100$th of a percent and enter your answer as a percentage, e$.$g$.,12\mathrm{.}34$ for $12\mathrm{.}34\%)$ 

Answer rating: 100% (QA)

To calculate the expected annual rate of return on the bond we need to consider the bonds cu... View the full answer