You purchase a $1000 face value bond with 6 years to maturity for $850.
One year later, you sell the bond to a bond investor for $714. Suppsoe that the bond investor holds the bond to maturity. Calculate the annualized rate of return that the bond investor will receive.
Enter your answer into blackboard as a percentage rounding to two decimal places. For example if your answer is 1.25 percent then you should enter “1.25”.