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An investor buys a 10% semi annual coupon, 10-year bond for $1,000. The coupons can be reinvested at 12%. The investor estimates that the bond will be sold in 3 years $1,050.
Based on this information, what would be the average annual rate of return over the 3 years? A. 13.5%. B. 11.5%. C. 9.5%. |