A U.S. investor purchased Sony bonds that were denominated in yen, had a 6.9% yield to maturity, and had one year to maturity. At the time of purchase, the exchange rate was 139 yen/$. At maturity, the exchange rate was 122 yen/$. What was the investor's annual return on the bonds?

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The Answer of A U.S. investor purchased Sony bonds that were denominated in yen, had a 6.9% yield to maturity, and had one year to maturity. At the time of purchase, the exchange rate was 139 yen/$. At maturity, the exchange rate was 122 yen/$. What was the investor's annual return on the bonds?

A US Investor Purchased Sony Bonds That Were Denominated in Yen