Question: Help! Please assist with problem below. Unable to figure out correct %. The market price is $700 for a 9-year bond ($1,000 parvalue) that pays

Help! Please assist with problem below. Unable to figure out correct %.

The market price is $700 for a 9-year bond ($1,000 parvalue) that pays 9 percent annualinterest, but makes interest payments on a semiannual basis (4.5 percentsemiannually). What is thebond's yield tomaturity?

Thebond's yield to maturity is _____%. (Round two decimal places)

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