$(1$ point$)($Exercise $6\mathrm{.}23)$ An n$-$year $$1000$ par value bond with $2\mathrm{.}92\%$ annual coupons is

purchased at a price to yield an annual effective rule of $i.$ You are given:

$($i$)$ If the annual coupon rate had been $4\mathrm{.}92\%$ instead of $2\mathrm{.}92\%,$ the price of the bond

would have increased by $$289.$

$($ii$)$ At the time of purchase, the present value of all the coupon payments is equal to the

present value of the bond's redemption value of $$1000.$

Calculate $i.$

ANSWER $=$

$\%.$