What would your annual total rate of return on holding bond

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You purchased a 5-year annual-interest coupon bond 1 year ago. Its coupon interest rate was 6%, and its par value was $1,000. At the time you purchased the bond, the yield to maturity was 4%. If you sold the bond after receiving the first interest payment and the bond's yield to maturity had changed to 3%, what would your annual total rate of return on holding the bond for that year have been approximately?

Reference no: EM13917703

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