Assume semiannual compounding periods

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You purchased a zero-coupon bond one year ago for $279.83. The market interest rate is now 9 percent. Assume semiannual compounding periods.

If the bond had 15 years to maturity when you originally purchased it, what was your total return for the past year? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Total return for the past year _________%

Reference no: EM131524271


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