Question: please explain by steps, not Excel. thank you Question 13.02 A 25-year bond with a par value of 1,000 and 10% coupons payable quarterly is

please explain by steps, not Excel. thank you

Question 13.02 A 25-year bond with a par value of 1,000 and 10% coupons payable quarterly is selling at 925. Calculate the annual nominal yield rate convertible quarterly, A 2.7% B 5.4% C 8.2% D 10.9% E 13.6%

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