Question: A 3-year, 6% coupon, semi-annual pay note has a yield to maturity of 5.5%. If an investor holds this note to maturity and earns a

A 3-year, 6% coupon, semi-annual pay note has a yield to maturity of 5.5%. If an investor holds this note to maturity and earns a 4.5% return on reinvested coupon income.

What is his realized yield by the end of year 3?

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