"You purchased a 60-year annual-interest coupon bond 2 year ago. Its coupon interest rate was...
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"You purchased a 60-year annual-interest coupon bond 2 year ago. Its coupon interest rate was 9%, and its par value was $1000. At the time you purchased the bond, the yield to maturity was 9%. If you sold the bond after receiving the first interest payment and the bond's yield to maturity had changed to 8%, your annual total rate of return on holding the bond for that year would have been approximately 11
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