- Jim purchases a 10-year 1000 par value bond with annual coupons of 5%. The bond redeems at par value at maturity and is purchased to yield an annual rate of 8%. The bond is purchased on January 1s` 2000 and pays coupons each January 1st, starting in 2001. On January 1st, 2008, immediately after receiving the coupon payment, Jim sells the bond to Gary for 983.48.
• After the sale of the bond to Gary, Jim realizes an overall annual yield rate of j% on the bond during his ownership. • After the purchase of the bond from Jim, Gary holds the bond until maturity and realizes an overall annual yield rate of i% on the bond during his ownership.
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