Question: (1 point) Determine the yield rate | 12 using linear interpolation, by first finding an approximate yield using method of averages and then using the

(1 point) Determine the yield rate | 12 using linear interpolation,

(1 point) Determine the yield rate | 12 using linear interpolation, by first finding an approximate yield using method of averages and then using the next lowest and highest whole percent in linear interpolation. (i.e. if using method of averages you find j2 = 5.27%, then use j2 = 5% and j2 = 6% for linear interpolation) Face Value Redemption at Bond Interest Years to Redemption Purchase Price 7000 97 j12 = 12% 13 7385 Answer: %

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