#15

The market price of a semi-annual pay bond is $972.87. It has 15.00 years to maturity and a coupon rate of 5.00%. Par value is $1,000. What is the effective annual yield?

Answer format:Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434))