Last year Janet purchased a $1,000 face value corporate bond with a 9% annual coupon rate and
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Last year Janet purchased a $1,000 face value corporate bond with a 9% annual coupon rate and a 10-year maturity. At the time of the purchase, it had an expected yield to maturity of 9.15%. If Janet sold the bond today for $1,044.01, what rate of return would she have earned for the past year? Do not round intermediate calculations. Round your answer to two decimal places.
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Related Book For
Financial Markets and Institutions
ISBN: 978-0077861667
6th edition
Authors: Anthony Saunders , Marcia Cornett
Posted Date: