Calculate realized rate of return earned on this bond

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Please show work using financial calculator in TVM (PV, PMT, I/Y, FV, N)

You bought a bond (par= $1,000 four years ago for $1020 per bond. The bond is now selling for $ 970. It also paid $ 80 in interest per year (i.e. 8% coupon rate), which you reinvested in the bond. Calculate the realized rate of return (annualized) earned on this bond. Interest is paid semiannually.

Reference no: EM131849362

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