FI 4000 Total Return for a Bond n number of coupon payment periods in the investment horizon C periodic coupon payment P0 price of bond at beginning of investment horizon Pn price of bond at end of investment horizon y reinvestment rate Pn P0 C C C C C n 1 1 y n 2 C 1 y C 1 y C Pn 1 y n 1 TF C Pn y Pn 1 TF n TR 1 P0
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