Mark Crane purchased a $1,000 corporate bond five years ago for $1,055. The bond paid 7.0 percent annual interest. Five years later, he sold the bond for $980. Calculate the total return for Mr. Crane's bond investment. (Do not round intermediate calculations.)
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Home » Business » Mark Crane purchased a $1,000 corporate bond five years ago for $1,055. The bond paid 7.0 percent annual interest. Five years later, he sold the bond for $980. Calculate the total return for Mr. Crane's bond investment.