One year ago, an investor purchased a 10-year 8 % annual coupon bond at par of $1,000. Today (with 9 years to maturity) the bond is priced to yield 7.85%. If the bond is sold, what is the total return to the investor (interest plus appreciation) for the 1-year holding period? Hint: The total return includes the coupon rate plus the appreciation (or depreciation) due …
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