Could you please explain where the exponent 1/2 comes from? Is the exponent always 1/2 when going from effective annual yield to maturity to regular yield to maturity or will the exponent be different sometimes?

Thanks!

A coupon bond pays interest semi-annually, matures in five years, has a par value of $1,000 and a coupon rate of 12%, and an effective annual yield to maturity of 10.25%. The price the bond should sell for today is A. $922.77 B. $924.16. C. $1,075.80 D, $1,077.20. E. None of the options ( 1.1025)1/2-1 = 5%, N = 10, IY= 10%, PMT = 60, FV = 1000, p PV = 1,077.22