What is the effective annual yield

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Richard Miller bought 10-year bonds issued by Harvest Foods five years ago for $ 931.55. The bonds make semiannual coupon payments at a rate of 8.3 percent. If the current price of the bonds is $ 1,049.77, what is the yield that Richard would earn by selling the bonds today? (Round answer to 2 decimal places, e.g. 15.25%.)

What is the effective annual yield?

Reference no: EM133071824

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