What is the effective annual return

Reference no: EM13280501

Medical Mutual bonds bear a coupon rate of 12%. The bonds make semiannual payments. They have 3 years to maturity and are currently priced at 94 percent of par value. What is the bonds yield to maturity? What is the current yield? What is the effective annual return? Please give detailed answer, and show work step by step.

Reference no: EM13280501

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