Question: Rachel bought a 7 - year bond for $ 9 1 1 . 1 0 . The bond pays a coupon of 8 % per

Rachel bought a 7-year bond for $911.10. The bond pays a coupon of 8% per year and payments are made semiannually. What is the Effective Annual Yield to maturity (EAY) on this bond?
Group of answer choices
8.68%
6.30%
10.02%
7.60%
9.78%

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