Question: On the issue date, you bought a 10-year maturity, 7% semi-annual coupon bond. The bond then sold at YTM of 6%. Now, three years later,

On the issue date, you bought a 10-year maturity, 7% semi-annual coupon bond. The bond then sold at YTM of 6%. Now, three years later, the similar bond sells at YTM of 5%. If you hold the bond now, what is your realized rate of return for the 3-year holding period? Show your work and explain.

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