Problemone year ago you purchased a 5-year 1000 face value, Ask an Expert

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Problem:

One year ago, you purchased a 5-year, $1,000 face value, 6 percent coupon bond for $1,012. Interest is paid semi-annually. Today, you sold the bond at a market rate of return of 6.27 percent.

Required:

What is your total return in dollars on this investment?

Note: Please describe comprehensively and provide step by step solution.

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Category:- Basic Finance
Reference No.:- M91148209

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