Question: I have two question, first how effective annual interest rate is 12.36%?(show me how to get 12.36 as effective annual interest rate) second question is

I have two question, first how effective annual interest rate is 12.36%?(show me how to get 12.36 as effective annual interest rate) second question is how much she pays today to buy bond?

I have two question, first how effective annual interest rate is 12.36%?(show

Example on Bonds Christina buys a bond from the State of North Carolina The bond has a 10-year maturity Face value - $1000 . coupon interest rate-8%, payments are made semiannually Effective annual interest rate-12.36% What should be the bond's price? (In other words, how much should Christina pay today to buy the bond?)

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