he nominal rate of return is ______% earned by an investor in a bond that was purchased for $906, has an annual coupon of 4%, and was sold at the end of the year for $1045? Assume the face value of the bond is $1,000.

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter4: Bond Valuation
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The nominal rate of return is ______% earned by an investor in a bond that was purchased for $906, has an annual coupon of 4%, and was sold at the end of the year for $1045? Assume the face value of the bond is $1,000.
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