Nominal annual yield rate compounded semi-annually

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A 10 year bond has semi-annual coupons. The coupon rate is 5% for the first 5 years and 9% for the following 5 years. The bond has face amount of 100 and a redemption amount of 105. Six months before the first coupon, the bond is purchased for 100. Calculate the nominal annual yield rate compounded semi-annually. Hint: Use the financial calculator.

Reference no: EM13764430

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