Question: 5 . A 1 0 year $ 1 2 , 0 0 0 bond paying a coupon rate of 3 . 7 5 % compounded

5.A 10 year $12,000 bond paying a coupon rate of 3.75% compounded semi-annually was purchased at 98.10%. Calculate the yield at the time of purchase of the bond.
%
Round to two decimal places

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