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Suppose you bought a $1,000 face value bond with a coupon rate of 4.5 percent...

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Finance

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Suppose you bought a $1,000 face value bond with a coupon rate of 4.5 percent one year ago. The purchase price was $990. You sold the bond today for $988.4. If the inflation rate last year was 2.2 percent, what was your exact real rate of return on this investment? % Instruction: Enter your response as a percentage with two decimal places

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