FINANCE 3360- You buy a(n) 5.5% coupon, 8-year maturity bond
You buy a(n) 5.5% coupon, 8-year maturity bond for $985. A year later, the bond price is $1,160.a.What is the new yield to maturity on the bond? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Yield to maturity % b.What is your rate of return over the year? (Round your answer to 2 decimal places.) Rate of return %