Problem 6-21 Rate of Return (LO3) A bond is issued with a coupon of 6%...
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Problem 6-21 Rate of Return (LO3) A bond is issued with a coupon of 6% paid annually, a maturity of 32 years, and a yield to maturity of 9%. What rate of return will be earned by an investor who purchases the bond for $687.81 and holds it for 1 year if the bond's yield to maturity at the end of the year is 11%? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Negative amount should be indicated by a minus sign.) Rate of return %
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