Business, 10.03.2020 06:08 raiindrxp

You purchased a five-year annual payment 6 percent coupon bond for $1,000 and you planned on holding it to maturity. However, right after you bought the bond, it was called at $1,043.29 when all interest rates fell to 5 percent and remained there for the full five years. You reinvested the money for the full five years. What was your annual compound rate of return off your original investment?

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You purchased a five-year annual payment 6 percent coupon bond for $1,000 and you planned on holding...